[1][2] It contains internationally significant areas of eelgrass meadows, horse mussel reefs, kelp forests and maerl beds, which boost biodiversity and create an environment for commercially important species of fish, shellfish and crustacea.

[3] Furthermore, the bay is a "core marine area" of the Isle of Man's UNESCO Biosphere Reserve.

As of 2019 a significant part of the reserve is included in a controversial proposal for a marina which would see South Beach infilled and a new harbour built in the bay.

On 7 March 1956 the Fleetwood-based trawler, Fleetwood Lady, anchored in Ramsey Bay to allow three of the male crew to visit their families ashore.

All six crew, Allan Bradford, Arnold Brew, Albert (Abby) Cottier, Eric Lyall, his son Eric James Lyall and Reginald Wright lost their lives when their rowing boat capsized as they returned to the trawler.