Tourism, which topped over a million visitors a year but has considerably diminished since 2004 the year of two major hurricanes to hit the island. Several cruise ships stop weekly at the island. Much of the tourist industry is centered on the seaside suburb ofLucaya, owing its name to the pre-Columbian Lucayan inhabitants of the island evidence of whom has been found on the island. Freeport features at least two Junkanoo festivals near New Year's.
The city is often promoted as "Freeport/Lucaya". Most hotels on the island are located along the southern shore facing the Northwest Providence Channel. Primary shopping venues for tourists include the International Bazaar near downtown Freeport and the Port Lucaya Market Place in Lucaya. Recovery from two hurricanes has taken several years, but is now nearing full recovery.
In addition to tourism, the other major industries include one of the largest container ports in the world, servicing the eastern seaboard of the USA, and major dry-docks for cruise ship refurbishing
