Spetses got its current name during the Venetian period, because of its many fragrant flowers (Isola di Spezia, meaning island of perfumes) and became one of the strongest naval and commercial powers in the Aegean. The first signs of human existence on the island date back to the Mesolithic era, around 8000 BC. In 1821, with the outbreak of the Greek Revolution, many Spetsiot sailors contributed their considerable naval strength to the struggle, of which the  Laskarina Bouboulina became a prominent figure.

It is worth visiting the island at the beginning of September where the Armatas Festival is held every year, a re-enactment of the 1822 naval battle of Spetses, in which boats participate with fireworks and firecrackers. The events last for a week and on the second weekend of September, Spetses becomes a meeting point for boat owners and yachtsmen who gather to watch the events. Off the coast of Spetses, behind the sailing boats and celebrity yachts, there is always a naval frigate anchored throughout the celebrations to pay tribute to the victory. After the liberation, Spetses did not manage to regain its former commercial and economic power, due to its decision not to use steam in shipping, however, since the beginning of the 20th century the island has shown significant recovery, relying mainly on tourism.