The town is known as the fresh water SCUBA diving capital of the world, because of the numerous shipwrecks that lie in the surrounding waters, especially in Fathom Five Marine Park, which owns the waters around Tobermory. Tobermory and the surrounding area are popular vacation destinations. People come for the beaches, the diving, the unspoilt countryside and the relaxed pace of life.
A car ferry, the Chi-Cheemaun connects Tobermory to Manitoulin Island in Georgian Bay.