Sustainable tourism appears innovative when we look at community based ecotourism leveraged through the special purpose vehicles. However, the intricate functioning and management dynamics of these models remain underexplored particularly in India and Sri Lanka. The research undertakes a comparative analysis of CBET SPVs in India and Sri Lanka, examining eight ecotourism destinations across these two countries. The research aims to uncover the operational nuances and management practices that underpin these models, providing insights into their adaptability and potential application in diverse tourism ecosystems. By generating data and assessing the eight CBET models, this study offers a valuable resource for academics, researchers, and practitioners. It aims to advance the mission of CBET by identifying replicable best practices and strategies for SPV implementation in other global destinations. The researchers, recognized for their expertise in CBET, conducted extensive field visits to the selected destinations. They engaged with local communities, tourism stakeholders, and government and non-government agencies involved in supporting qualitative CBET initiatives through SPVs. Using a mixed-methods approach, the study analyzed the structure, functioning, livelihood impacts, and overall effectiveness of these models. The study highlights opportunities to enhance CBET practices and develop innovative constructs, models, and frameworks. These findings are tested and validated in real-world settings, contributing to the evolution of community-driven tourism systems while fostering sustainable livelihoods.