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This paper examines how tourism as a form of land use and economic development is a critical site of struggle over the meaning of neoliberalism, landscape and land rights in northern Tanzania. I examine two tourism arrangements in Loliondo: joint ventures between expatriate-owned ecotourism companies and predominately Maasai villages; and the leasing of a hunting concession on village lands by the central government to a powerful foreign investor from the United Arab Emirates. Despite the fundamental role of foreign investors in appropriating resources and surplus value from regional landscapes in each of these cases, I argue that the Maasai in Loliondo see contemporary land grabbing as firmly situated in state claims to property and territory. The Maasai in Loliondo have come to think of the market, expressed through their direct relationships with ecotourism investors, as the most promising space to legitimize and secure land rights and access to resources. Loliondo, an area in northern Tanzania bordering the Serengeti National Park and the Ngorongoro Conservation Area, has become one of the most important sites for tourism development in Tanzania. This region is home to the iconic Maasai people, who practice pastoralism and are part of what attracts tourists to Tanzania. These Maasai face increased pressure to assert their local vision of a landscape and their ability to commoditize it. I situate current land struggles within the political economy of tourism in Loliondo and show how different articulations of market–state–community become both materially and symbolically meaningful. Ultimately, I argue that the Maasai retain faith in market-based relationships in spite of increasingly limited room to maneuver.