Bansko, once mainly a stockbreeding and travelling merchant community, has nowadays become a center of winter and summer tourism. The mountain peaks near the town, the numerous lakes and the old pine woods make it a popular site for recreation. In recent years, the town has gained international popularity after the start of the annual Bansko Jazz Festival and consequently the annual Bansko pop-star concert featuring top pop stars. The nearby village of Banya, located only 5 km from the town, is known for its 27 thermal mineral springs.
A new gondola lift was built in 2003 to replace a minibus ride up to the ski slopes of Todorka. Several other gondolas and ski lifts are in the process of being built. These developments, along with the construction of extensive housing and recreational facilities around the gondola (which is on the southwest end of the town by the river), have made Bansko a popular and growing destination.
