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The search for happiness, understood as an inner and personal attitude that goes beyond mere satisfaction, is one of the aims of tourists’ co-creation of value. To date, few studies have analysed the importance of people’s moral principles in the co-creation of tourist value. Moral emotions play an essential role in this process. In this study, 12 tourism managers within administration, 28 hotel managers and 24 travel agencies actively participated in defining the indicators selected to measure how the co-creation of value from five Span-ish towns affected customers’ happiness. Moreover, 444 tourists participated in the study. The PLS-SEM technique was used to examine the data obtained. Results show that the co-creation of value contributes to the happiness of the tourist. Of particular significance is the influence of customers’ co-creation of value on customer happiness. Additionally, the predictive capacity of the model is replicable to other tourist destinations.
