Livelihood assets have a significant impact on the livelihood options and income of tourism communities. The level of tourism development and the type of natural tourism communities often exhibit spatial differences. By using the method of sustainable livelihood and examining the main factors that affect community income from the perspective of spatial heterogeneity, it is possible to identify the livelihood assets that play the most critical role in the development of sustainable livelihoods and income generation in the community, which helps provide more reasonable advice on tourism destination management. In this article, we conducted a case study on 16 communities in and around Jiuzhaigou Nature Reserve in Sichuan Province, China, and divided the communities into three types, i.e., core attraction areas, service support areas, and secondary service support areas, according to the geographical and spatial characteristics, tourism development level, and livelihood type. The participatory assessment method was adopted to obtain in-depth interviews and questionnaire data from 256 rural households, which was utilized to construct four multivariate regression models to investigate the effect of livelihood assets on community income and the spatial difference of the factors that affect community income. The results showed that (1) livelihood assets exert a significant impact on community income in tourist areas, with a remarkable spatial difference; (2) the types of livelihoods and the effective utilization of livelihood assets have a significant impact on farmers' incomes; (3) the type and amount of livelihood assets have a certain impact on the choice of livelihood; and (4) a farmer's livelihood type determines the utilization method and the effective utilization of livelihood assets.