The goal of the working paper is to contribute to a better understanding of the motivating and deterring factors for corporate engagement in peace. Focusing the empirical research on the conflict-vulnerable tourism sector in Croatia, Rwanda, and Sri Lanka, the working paper argues that economic incentives are an important though not a sufficient motivation for most forms of corporate engagement in peace. Other factors such as the terms (or costs) of peace and the relationships to or dependence from the government can also strongly influence corporate willingness to actively contribute to peacebuilding.