Very complex yet highly integrated business logics characterise cruise tourism with shore excursions frequently identified as a key source of value. This paper presents a case study of cruise tourism and shore excursion planning in Copenhagen, Denmark. The aim of this paper is to investigate the characteristics of cruise tourism, itinerary and shore excursion planning with a view to understanding the value generated from cruise tourism shore excursions. We argue that economic value is a blunt measure, and there are other types of value, positive and negative, that are also generated. This research reveals that a range of local conditions and structural characteristics create barriers and opportunities for generating different types of value. Using a case study of shore excursions in Copenhagen, the Baltic's most important port, this paper explains the dynamics between cruise tourism and shore excursions. The study highlights that destination managers and port authorities cannot assume the monetary and non-monetary value generated from shore excursions automatically flows on to, and throughout, destinations. Destination managers can make better decisions and engage in more targeted and informed strategies to optimise value for local destinations if they understand these dynamics.