This study proposes a model to investigate the relationship between residents’ perception of tourism’s impact on their quality of life (QoL) and their emotional solidarity toward tourists. The social exchange theory was used as a framework to explain the relationship, and structural equation modeling to assess the hypothesized model. Data for this study were obtained from survey responses of 407 residents in Macau, China, characterized by an intense tourism activity in a small territory. Results indicate that residents’ perception of tourism’s impact on four life domains (material, community, emotional, and health and safety) influences their satisfaction with the corresponding life domains. However, these domains only partially contribute to their overall satisfaction with QoL. Moreover, overall satisfaction with QoL revealed to be a significant predictor of residents’ emotional solidarity toward tourists. The findings indicate the importance of considering QoL in examining residents’ attitudes toward tourists. Implications and opportunities for further research are proposed.