The town and the surrounding mountains were the site of military confrontations in 1916, during World War I (see Romania during World War I). A large commemorative monument (about 25 m high), Heroes' Cross (Crucea Eroilor) lies atop nearby Caraiman Peak, at nearly 2,260 m. The monument is lighted at night and is visible from virtually everywhere in Buşteni.
The main local industries are wood industry and tourism. Many holiday houses have been recently built in the town.
Also a new Information Tourism Center was set up near the City Hall.
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