Europe as a destination seems to be in a critical stage. There is more competition than cooperation between European nations and regions Our continent needs new solutions and patterns of tourism development. As new initiatives take place in transborder regions it is important to analyze opportunities for transborder tourism development. Several euroregions function only as “umbrellas” facilitating tourism development in national components however some of them are becoming attractive transborder destinations. The author tries to compare regions and euroregions as destinations. The paper shows the role of structural funds (e.g. Interreg), in transnational cooperation and to describes examples of good practice in transborder tourism. According to Association of European Border Regions, “the border regions themselves would not be able to overcome their problems without being granted assistance from the UE. The Oresund is one of the first euroregions promoted as transnational destination. The creation of a transborder destination is a long term process. It requires stable partnership between national components that leads from alienation to integration. © 2005, Emerald Group Publishing Limited