We proceed from the understanding that humans are part of ecosystems, therefore, nature provides people with ecosystem services. At the same time, however, different social actors can perceive and evaluate the same place in totally different ways. The focus of this text is the case of Bolata bay, Bulgaria. Until the middle of the 20th century, the bay had an essential role in locals’ livelihoods (husbandry, fishing, etc.). The inclusion of the area within the Kaliakra reserve, the establishment of the socialist cooperative farms, and the construction of a military base in the vicinity changed access to, and the regime of use, of the bay. After the collapse of the socialist state (1989), and especially over the last two decades, the bay’s sandy beach gradually gained popularity as a tourist site. Thus, we examine local perceptions of nature as a source of livelihoods, paying attention to different management ideas regarding both economic growth and natural preservation, and conflicts caused by opposing aspirations among various social actors (local residents and entrepreneurs, local and state administration, NGOs, tourists, etc.).