An important lighthouse is installed on Cape Ekrene, 3 km (2 mi) south of the village.

Kranevo enjoys high tourist population during summers and two of the reasons are its proximity to Albena (less than half an hour on foot, by walking on the beach) and its clearly lower prices.

Its name during Ottoman rule was Ekrene, and Ecrene under Romanian administration.

[1] From 1913 to 1940, Kranevo was part of Caliacra County of the Kingdom of Romania, being the southernmost point of the country at the time.

In 1958 the labor troops passed the road from Balchik, Albena through Kranevo to Golden Sands and Varna.