Investment is key to economic growth in terms of liberal capital movement and the global economy. Capital, invarious forms of investments, especially in the form of foreign direct investments, moves into areas and projects with the most favourable yield – risk ratio. Investments in tourism in post-transition and developing countries are from an international point of view, an important form of achieving balanced regional development. Due to these characteristics of investments in tourism, it is important to analyse the potentials for brownfield investments in Zadar County and favourable and aggravating circumstances in the realization of these potentials. The main aim of the research is to present guidelines based on the presentation of the disadvantages of brownfield locations that can benefit from the easier realization of location potentials. The result of the research point to the natural comparative advantages of Croatia in attracting investments in tourism, but also to the need of creating more favourable tax conditions and resolving property – legal relations with the aim of urban regeneration and prevention further devastation of abandoned spaces in attractive locations.