Owing to the complexity of the tourist product most firms in a tourist destination are interdependent on one another. As well as being competitors they also have to work together on creating the overall quality of the total tourist product. It is difficult to separate co-operation from competition. The purpose of this paper is to discuss a co-opetitive theory of business derived from the results given by a networking study of marketing a tourist destination dominated by micro businesses and independent entrepreneurs. The results of the study show that there are two different sets of values in the destination and these determine and distinguish the way firms are involved in networking