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The objective of this study is to test a theoretical model that links community residents' perceptions of tourism impact (economic, social, cultural, and environmental) with residents' satisfaction with particular life domains (material well-being, community well-being, emotional well-being, and health and safety well-being) and overall life satisfaction. The model also posits that the strength of these perceptual relationships is moderated by the stage of tourism development in the community. The model was tested using a survey of 321 respondents from communities varying in their level of tourism development. The results were mostly supportive of the overall model. Theoretical and managerial implications of the study findings are discussed.