The main advantage of the Aegean islands, in generating national, regional, or international competitiveness, compared to the areas on the continental mainland, is their natural and cultural assets, their cultural landscapes. Consequently, the organized utilization of cultural heritage, rich biodiversity, and the unique Aegean landscape, could make the islands attractive as places to live or work and help them fulfill their sustainability goals. Ecomuseums are ‘in situ’ museums, aimed at local communities and managed by them, aiming at the interpretation, protection, utilization, and promotion of natural and cultural assets of a place, and at the economic revival of marginal regions through the combinational development of small-scale tourism, local manufacturing, and primary production sectors. They could function as laboratories of sustainable development. The island of Lesvos has been selected as a case study for such a potential ecomuseum.