It was formerly a ferry port, until an undersea tunnel, the Vágatunnilin, was built from Vágar to Kvívík and Stykkið further south on Streymoy.

The cliffs west of Vestmanna, Vestmannabjørgini, are very popular for excursions by boat.

In December 1759, during the Seven Years' War, François Thurot's squadron sheltered from stormy conditions at Vestmanna.

The lack of supplies available from the islanders motivated the subsequent raids by the squadron on the north Irish coast.

In 2012, a camping site was established at Inni á Fjørð with a capacity of 120 caravans in addition to tents.