Main industries in Húsavík are fishing and fish processing but also different service industries, both public and private, agriculture in Reykjahverfi, and tourism. Tourism has been growing very rapidly in the last few years, especially in connection with Whale Watching tours on Skjálfandi-bay from Húsavík harbour on traditional renovated fishing boats. Tourism has grown to the point that Húsavík is now well known as "The Whale Watching Capital of Europe."

North of Husavik, the Tjörnes peninsula is known for fossilised seashells from pre-historic times some of which are on display at Hallbjarnarstaðir fossil Museum.

The National Park in Jökulsárgljúfur is about 65 km northeast of Húsavík, with it's many fantastic rock and earth formations. Nearby in Jökulsá á Fjöllum is Europe´s most powerful waterfall, Dettifoss.

Less than half day drive from Húsavík, in the wilderness of the interior are some well known places of interest: Askja, a huge volcanic caldera in the Dyngjufjöll mountains; and Kverkfjöll, a geothermal area in the northern edge of Vatnajökull glacier.