Tourism is a large employer in Cobh. Large cruise liners visit Cobh each year, mainly during the summer months, although many of the tourists are transported out of Cobh by bus to other tourist destinations. In all, almost 100,000 cruise liner passengers and crew arrive in the town each year when their ships berth right in the centre of the town at Ireland's only dedicated cruise terminal.
Tourist attractions are focused on the maritime and emigration legacy of the town and include the Queenstown Story at the Cobh Heritage Centre, Titanic Experience, Titanic Trail walking tour, Cobh Museum, Cobh Road Train, Spike Island tours and St Colman's Cathedral. The town has remained largely unchanged since RMS Titanic departed from Cork Harbour in 1912, with the streetscape and piers still much the same. Facing the town are Spike Island and Haulbowline Island. The latter is the headquarters of the Irish Naval Service, formerly a British naval base.
Cobh was home to Ireland's only steelworks, the former state-owned Irish Steel works which was closed by its buyer, Ispat International, in 2001. There is a controversy over the slag heap on the steelworks, where there are concerns that it may be leaching into the harbour. Another important employer in Cobh was the Dutch-owned Verolme Cork Dockyard, in Rushbrooke. It opened in 1960 but ceased operations in the mid-1980s. In 1981 the MV Leinster was built at Verolme for service on the Dublin – Holyhead route.
The last ship built at Verolme was the Irish Naval Service's LÉ Eithne (P31). Ship repair work is still carried at Rushbrooke using the dry-dock and slip way carriages. The dry-dock pumps date from 1912.