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In this study, we assessed the effect of a diverse ownership structure with different management strategies within and between owner categories in long-term projections of economic, ecological and social forest sustainability indicators, representing important ecosystem services, for two contrasting Swedish municipalities. This was done by comparing two scenarios: one where the diversity of management strategies was accounted for (Diverse) and one where it was not (Simple). The Diverse scenario resulted in a 14% lower total harvested volume for the 100 year period compared to the Simple scenario, which resulted in a higher growing stock and a more favorable development of the ecological indicators. The higher proportion of sparse forests and the lower proportion of clear-felled sites made the Diverse scenario more appropriate for delivering access to common outdoor recreation activities, while the Simple scenario projected more job opportunities. Differences between the scenarios were considerable already in the medium term (after 20 years of simulation). Our results highlight the importance of accounting for the variety of management strategies employed by forest owners in medium- to long-term projections of the development of forest sustainability indicators.