In this paper we examine the perceptions of ERASMUS agents' of Polish students' participation in the EP. We provide a Bourdieusian analyse of the cultural and social capital acquisition of students based on the qualitative data, collected through semi-structured, in-depth interviews with Erasmus agents, of a European research project. We argue that: Polish students' participation in the EP has a positive impact on their academic achievement, cultural, social and linguistic capital, but, at the same time, it has a negative impact on degree completion of students as they get highly paid jobs, which prevent them from fully developing their cultural capital; ERASMUS Tourism has its value and place in the EP, because it provides students with the opportunity to develop their cultural, social and linguistic capital; and a Bourdieusian analysis of the experiences of ERASMUS students provides a better understanding of the impact student participation in the EP on their development.