This municipality has a strong historical character, its villa and harbour are agreeable places, of great beauty and amazing calm. Together with Buenavista, Los Silos and El Tanque it forms the so-called Low Isle (Isla Baja).
It was awarded the Beautiful Arts Gold Medal in recognition of its cultural and artistic heritage and outstanding indubitable architectonic value, as well as for the preservation of its streets and plazas, an example of pulchritude, and the care and the refined style of many of its constructions. Its art-loving population frequently housed famous personalities.
Today the basis of its economy is in the services sector, related to activities that are generally carried out in the tourist areas of Puerto de la Cruz or the southern part of the island.
Agriculture also absorbs a great part of Garachico’s work force, specially in cultivating bananas, which is mainly carried out by older persons, farmers and banana plantation workers. Fishing is practiced in La Caleta, famous for its clams and El Guincho with its known “viejas”, that are a complement to some inhabitants.