Any form of economic development requires consistent planning. Tourism, nowadays, is a sector capable of promoting economic acceleration and growth in the social, cultural and environmental areas. However, the decision to promote economic development by means of tourism is more complex than it appears, as apart from being a multi-sector activity, its development also causes environmental, social and economic impacts, and effective public policies are needed, to ensure long-term sustainability. Therefore, economic measures focused on tourism require a detailed knowledge of the economic impacts caused by the activity, as tourists spend their money on a wide variety of goods and services. This study presents a model for analysis of the direct economic impact of tourism on the city of Rio de Janeiro, through an examination of the main economic indicators. The proposed model is an extension of the model developed by Stynes (1999), which is widely used in international studies, to measure the economic impacts of the tourism sector. Thus, it is possible to provide public administrators with an economic view of tourism activity, enabling the formulation of public policies aimed at developing the activity. Key words: Economic Indicators, Economic Impacts, Public Policies, Sustainability.