Over the years, Ilovik has become an increasingly popular tourist destination in the Northern Adriatic. There are daily excursion boats that come from Mali Lošinj during the summer. The main attractions are the church of Sts. Peter and Paul; the various beaches, particularly Harbac; the town well; and the small village.
The port of Ilovik has been taken advantage of by sailors from the past to present because of the natural harbor, defending sailors from all winds, particularly Jugo, or the southern wind. During the summer, the harbor is packed with yachts and sailboats from the town cemetery to the Venetian castle.