Paržine is connected to the village by a road, as is the beach Parknu, which includes a World War II bunker.

Ilovik and Sveti Petar are separated by an inlet which is 2.5 km (1.6 mi) long and 300 metres (980 feet) wide.

The convenient location of this harbor makes it a favorite rest stop between the northern and southern parts of the Adriatic.

By the mid-20th century, the island was largely stripped of vegetation due to extensive goat and cattle farming, as well as exploitation of forest for firewood and construction.

In the following decades, a gradual abandonment of animal husbandry and the introduction of electricity and LPG cylinders have resulted in natural reforestation, and by the early 21st century approximately 65% of the island was covered with forest and macchia.

Due to its geographic location, the harbor between Ilovik and Sveti Petar has been used as a safe anchorage since ancient times.

The remains of Roman buildings, mosaics, coins, a burial sarcophagus as well as an underwater archaeological site have been located in this area.

The walls enclosing the present-day cemetery date back to the 11th century and were part of a Benedictine monastery.

Sveti Petar also houses a summer monastery for monks of the Franciscan Order and the remnants of a small castle, which was built in 1600 by the Republic of Venice.

The island population has been on a steady decline since the early 1960s when the heavily religious community was granted passports by the extant Yugoslav government.

[citation needed] For remaining inhabitants their main occupations continue to be fishing, sheep herding, agriculture and more recently tourism.

Each summer the island population will often double or triple in size when these expatriates return home with their families for vacation.