Abstract: This paper aims to compile red flags appearing at the interface of hosts’ wellbeing, ecosystem services (ES) and tourism, which have already been described in the literature. We focus on host communities in developing countries, as poor and disadvantaged people much more often depend directly on ES. We start with a description of the concepts ES and wellbeing. The second section describes prominent gaps and challenges in the ES–wellbeing interface, with special focus on those that can be relevant to tourism (such as the establishment of protected areas, the concept of paying for ES, poverty reduction, endowments vs entitlements). The third section is devoted to a discussion of the identified gaps and challenges. The last section contains conclusions and implications. These recommendations are global and fairly general indications that should be considered at the interface between ES, tourism and wellbeing policies, whatever the context.