Festivals are organized with the aim of increasing the pride and excitement of the community, developing the image of the destination, securing income for special projects and showing community's uniqueness. Festivals have an important perspective in destination marketing and are considered one of the most important travel motivators. Festivals provide unique experiences to participants and increase tangible and intangible benefits to stakeholders. Festivals affect the destination and the lives of the residents in different ways. Community involvement and support for festivals and events are important factors that contribute to successful festivals and events. The topic of sustainability in the world is becomeing more and more important and it is becoming obvious that it is necessary to create new structures. In order to create the most sustainable festival possible, in addition to the visitors, the organizers of the festival must also be responsible, as well as politics and the economy. The paper compared two festivals of coastal destinations, the Fallas Festival in Valencia and the Carnival in Rio de Janeiro. Historical background, cultural siginificance, traditions and socio-economic influences were explored, the limitations faced by these festivals were mentioned and at the end were givene recommendations for the organization of a successful festival. Organizing festivals can contribute to the stimulation of cultural, economic and social changes and thus, cities can become more attractive and sustainable urban environments. By planning the event in detail, the organizer will be able to deliver a high-quality event that meets the objectives in a creative, safe and enjoyable way, within the specified time frame and within the budget.