Tourism heavily depends on Common-Pool Resources (CPRs) such as natural landscapes, cultural heritage and public spaces. They are vital for destination appeal but vulnerable to overuse and inequitable distribution. These resources, characterized as non-excludable and rivalrous, often suffer from free-riding behaviors and commodification, leading to degradation, gentrification and social inequalities. Despite their importance, current market mechanisms and governance frameworks inadequately address these challenges. Participatory governance, emphasizing stakeholder collaboration and community involvement, offers a pathway to sustainable CPR management. However, barriers such as power imbalances, institutional instability and financial constraints hinder effective implementation. Destination Management Organizations (DMOs) play a critical role but frequently adopt growth-oriented strategies at the expense of resource preservation and community well-being. Urban tourism intensifies these issues, with overtourism and gentrification underscoring the need for inclusive governance models. Balancing preservation, equitable benefit distribution and development requires transformative approaches to CPR management in tourism.