This study analyzes how tourism impacts the economy and social dynamics of Rocinha, the largest favela in Brazil, located in the South Zone of Rio de Janeiro. The qualitative research was based on interviews with local residents and tour guides, aiming to understand their perceptions of the economic, social, and cultural effects of tourism activities. The study adopts an internal perspective, emphasizing the voices of residents and their role in building a more inclusive form of tourism. Findings suggest that tourism has contributed to income generation and the strengthening of local identity, although challenges related to management, community participation, and cultural appreciation remain. The results highlight the potential of cultural tourism as a tool for sustainable development and social transformation, especially when guided by collaborative, ethical, and context-sensitive practices.