Ecotourism has become an alternative approach for overcoming the problems of traditional tourism with the assumption that there will be minimum negative impacts and maximum benefits for the local people and their environment. This study offers a comparative evaluation of the perceptions of environmental, economic and socio-cultural impacts between residents of a traditional tourism area and a recently created ecotourism area, both located within the Annapurna Conservation Area Project, Nepal. Data were collected on-site among local residents in both areas. Overall, this study concluded that residents of the ecotourism area perceived fewer negative and positive impacts (environmental, economic, socio-cultural) as a result of tourism than the residents of the traditional tourism area.