As a major commercial centre during the late 19th and early 20th centuries, Bonavista was a main focal point of fishery production with a population of 20,000 people. However, the collapse of the Northern Cod fishery in 1992 - the largest industrial closure in Canadian history, putting over 30,000 fishers and plant workers from over 400 coastal communities in Newfoundland and Labrador out of work - dramatically changed Bonavista’s local economy. While the town’s largest employer, Ocean Choice International Inc., now supports some 330 processing jobs, and the crab fishery supports many fishers, Bonavista’s future cannot solely rest on the fishery.
Tourism is increasingly an anchor sector for this community, providing new jobs and economic activity. With over 1,000 heritage buildings lining the town’s streets, the Bonavista Historic Townscape Foundation, along with private businesses, have begun heritage restoration initiatives over the past decade to attract new businesses and to entice tourists. Alongside the harbour is a full-sized replica of Cabot’s ship, The Matthew. The restored Ryan Premises - of historic fish-merchant fame – is now operated by Parks Canada. The Garrick Theater, one of the oldest surviving theatres in the province, has been renovated and now houses a multi-use, 200-seat theatre and meeting space.
In addition to the heritage attractions in Bonavista, there are a number of hoteliers and eating spots that cater to a variety of tastes. The Cape Shore Trail offers a spectacular hike over Bonavista’s rugged coastline, along with remarkable views of birds and whales (in season), culminating at the Cape Bonavista Lighthouse.
