The main economic activities in Kuusamo include forestry, reindeer husbandry, small industries and tourism. The unemployment rate, at 16.2% (2003) is relatively high.
In 2002 there were 248 farms in Kuusamo. Given the climatic conditions, milk and meat production have a major role, including reindeer meat from the approximately 10,000 semi-domesticated reindeer which roam the pastures in Kuusamo. The forestry and wood processing industry also employs over 1,000 people.
Around one million tourists visit Kuusamo annually. In 2002, 291,222 overnight stays were registered, 17% of which were by foreign guests. There are around 6,000 cottages (mökki) in Kuusamo, more than any other municipality in Finland.
The Ruka ski center, centered on the 492-metre Rukatunturi, is one of the largest in Finland with a total of 16,000 beds, four hotels and 28 restaurants. Activities include skiing, snowmobile tours and excursions with reindeer and dog sleds. Ruka benefits from a long snowy season, from mid-October to mid-June.
In summer, Kuusamo is a popular wilderness destination for fishing, kayaking and hiking. The most famous hiking trail (as well as Finland's most popular) is Bear's Ring (Karhunkierros), which runs for 80 km (50 mi), mostly in the Oulanka National Park
