Sveti Vlas has grown as a tourist resort in recent times, serving as a quieter alternative to nearby Sunny Beach. The gap between the two places is shrinking as more hotels and holiday apartments are built along the coast. Sveti Vlas lies at the northern end of a bay which has Sunny Beach in its middle and the ancient town of Nesebar at its southern end. Sunny Beach and Nesebar are easily accessible by bus or taxi, and there are also boats going between Sveti Vlas and Nesebar.
The resort was mainly popular amongst inland Bulgarian tourists, but recently there is rapid growth in the number of foreign tourists, mainly from Russia, but also from Great Britain, Poland, Romania and Scandinavia. Even though Sveti Vlas was heavily developed in 2000's it remained pretty quiet and calm down place, making it good place to have a rest. Due to that fact the typical visitors in the resort are families with children.
The latest development of the area has been the building of the Dinevi marina, the largest in Bulgaria. The Dinevi brothers have been developing the area with numerous complexes, highlighted by the marina itself. The latest development being worked on is Complex Admiral, due to be completed in 2016. The beach was expanded in 2007 using rocks and sand that was removed when digging out for the marina. The marina with its clubs and restaurants has become famous among the wealthier people in Bulgaria, and expensive cars like Ferraris and Porsches can frequently be seen.