The forces at work in the tourism sector have become more visible and debated as the industry’s global and regional effect has grown. Tourism was one of the fastest expanding industries in the world economy before the COVID-19 epidemic shut it down, contributing significantly to employment creation, export revenue, and domestic value added. While the pandemic has weakened infrastructures and innovative capabilities, it has also heightened the demand for fresh approaches and innovation. This paper by the Nordic Council of Ministers investigates Nordic policies and practices for monitoring tourism’s environmental, social, and economic impacts. It draws attention to existing expertise and best practices, as well as observations and suggestions for how the Nordic nations may “build back better” in order to develop more sustainable and regenerative travel and tourism sectors.