Tourism can be considered as an economic sector sensitive to various risk factors, in particular climatic, hydrological and geomorphological, which induce visible effects on tourism activities and the sustainability of that sector. The present study aims, through an approach based on documentary and statistics, field research and interview technique, to highlight some vulnerability aspects regarding the sustainable exploitation of the tourist potential of Mount Cozla in Piatra-Neamț municipality. Summarizing various types of tourist potential with many possibilities of exploitation, Mount Cozla is a main component of the tourist structure in Piatra-Neamț, being strongly integrated into the urban-functional system of the city. The tourist importance of this mountain lies in the concentration of a varied tourist potential, both natural and anthropic, supported by good accessibility due to the low altitude and proximity to the city: climatic and recreational (possibilities for walking, hiking and practicing various sports), balneary (presence of mineral springs), cultural-historical (presence of archaeological remains and historical and cultural objectives). Exploiting the tourist potential of Mount Cozla has been a permanent concern for the local community, through the development of specific and complex infrastructure. Recently, several projects for transport and sports activities have materialized, such as: cable car, two ski slopes with different degrees of difficulty, night ski facility and ski lift. The ski slope (inaugurated in 2009) is an ambitious tourist project, but due to the low altitude of the mountain (670 m), the poor rainfall and the high temperatures during the winter season, it was opened intermittently, operating only between 2009-2015 and 2018-2019. Also, geological and geomorphological characteristics favor mass displacement processes on slopes, landslides being the processes with the highest frequency and posing the highest risk to the specific infrastructure. They currently affect the secondary ski slope on the eastern side of the mountain. The study confirms that any development project needs to be supported by serious studies on investment payback vulnerability assessment to the impact of hazards or risk phenomena. In this case, geomorphological and climatic hazards delay the sustainable management of local tourist potential and the sustainable contribution to the economic development of the community.