This qualitative research explores the economic agency of Mapuche tourism entrepreneurs at the intersection between Development with Identity discourse and the touristification of Mapuche-Pewenche territory in Southern Chile. Based on the triangulation between institutional documents, interviews and ethnographic observation conducted in the Lake Icalma region, this research traces the strategic appropriation of the governmental discourse of ethno-ecotourism or “tourism with identity” by a new kind of indigenous economic leaders, who re-politicize, in situated and creative ways, both Development with Identity, and the possible trajectories for touristification of the indigenous territory.