Purpose. The purpose of the paper is the formation of economic principles of rural “green” (ecological) tourism in the process of decentralization of power as a catalyst for local economic development, identification of the causes and factors that contribute to or inhibit its development, and justification of financial mechanisms to stimulate its development. Methodology / approach. The methods of analysis and synthesis of information and dialectical method as well as the method of economic analysis and statistical method are the methodological basis of the study for highlighting the economic importance of rural “green” (ecological) tourism. The study is grounded on the application of correlation and regression analysis of the dependence of the number of tourists served by tour operators and travel agents on the GDP of the state per capita. Correlation and determination coefficients are used to assess the quality of the constructed linear regression model. The statistical significance of the model is tested on the basis of Fisher’s F-test and Student’s t-test. Results. The paper provides the authors’ interpretation of the term rural “green” (ecological) tourism as a type of tourism, which is a trip of tourists to natural, rural untouched by human, and protected areas based on the rational use of nature for educational purposes and for recreation, which corresponds to the concept of sustainable development. The state of rural green tourism in 2012–2019 is analyzed. The state of tourist activity on the example of the Rivne region in 2000–2019 is analyzed. Originality / scientific novelty. The relationship between the number of tourists served by tour operators and travel agents from the GDP of the state per capita is established. For the first time, the priorities of rural “green” (ecological) tourism development are formed, the factors of positive and negative influence on the example of specific destinations in the process of decentralization reform are identified and generalized. The principles of inclusive tourism development are improved. The principles of forming the strategic development of tourism on the basis of actual strategies at the national and local levels are further developed. Practical value / implications. Preconditions for improving the nature reserve fund as a basis for the development of rural “green” (ecological) tourism are formed. The improvements for the "Green Road Tourism Development Strategy “The Honey Circle” for 2018–2022" as an important tourist destination based on new tourism products are suggested. The advantages of inclusive tourism development are outlined.