Local tourism events have been considered as one of effective devices to activate local economic development. In fact many researches empirically tested and justified the economic significance of local tourism events. The most of the economic significance of local tourism events have been evaluated by local tourism economic impact analysis which always produces positive economic impact possibly resulting in inflated results However this method does not see through financial aspect or net-benefits of local tourism events. This paper aims to investigate economic significance of local tourism event with integrative perspectives. Local tourism economic impact analysis, feasibility studies, and benefit-cost analysis that have different focus are introduced and integrated for evaluating economic significance of local tourism events.