Most of Traverse City's economy is based on tourism. The National Cherry Festival, usually in the first week of July, tends to host hundreds of thousands of tourists and locals to the area. It has become a focal point within the craft brewing trend. In November Beer Week is celebrated, with tours of breweries including samplings of craft brews, dinners and work shops.

Farmers and gardeners from around the local region bring their fresh produce, flowers and baked goods to this Downtown Farmers Market. Located between Cass and Union Streets across from the Clinch Park.

Downtown Traverse City offers retailers a very strong retail destination, a variety of space size and price, the region's best tourist traffic, and a central location in Michigan's fastest growing retail market.