Experiential tourism, emerging from the broader concept of experiential travel, emphasizes meaningful engagement with local culture, history, and environments, often through structured experiences facilitated by tourism operators. This paper explores the evolution of experiential tourism within the context of the experience economy, highlighting how shifts in consumer preferences and advancements in technology have driven the demand for personalized, immersive experiences. The study also examines the implications of these trends for small and medium-sized enterprises (SMEs) and the rise of multinational corporations in the tourism sector. Additionally, the relationship between experiential tourism and sustainable development is discussed, particularly in light of the UNESCO 2030 Agenda, which underscores the importance of preserving cultural heritage and promoting responsible tourism practices. The integration of digital technologies, including virtual and augmented reality, is also considered for its role in enhancing the tourism experience and supporting sustainability goals.