Local festivals and events are interwoven with a destination’s culture，society and economy in many different facets. Festival events are parts of cultural tourism and are closely connected to tourism industry which always facilitates the development and promotion of local festivals and events. With strategic planning，local festivals and events add not only attractiveness to a destination，but also potential economic benefit to a society. Event management and strategic planning are crucial and critical to unveil the potential of local festivals and events that always create positive image to a destination. Through participating in local festivals and events，tourists are able to enjoy unique and authentic experiences of a destination. These kinds of experiences are powerful marketing word of mouth to develop a destination’s image and tourism industry. As such，the major objective of this chapter is to discuss the characteristics and potential development of Macau festivals and events in tourism industry. Moreover，successful examples of worldwide tourism destinations are discussed to identify elements which are applicable for Macau development. Festivals and events are valuable tourism resources. With meticulous planning and coordination with other tourism resources，the promotion of festivals and events are beneficial not only to the local economy but also conserve local culture. As a result，festivals and events are potential catalysts for a sustainable tourism development of a destination.