Phu Quoc is famous for its two traditional products: fish sauce and black pepper. The rich fishing grounds offshore provides the anchovy catch from which the prized sauce is made. Pepper cultivation is located inland in the center of the island. More recently a pearl farm was established.
Tourism plays an important role in the economy with the beaches being the main attraction. Phu Quoc was served by Phu Quoc Airport with air links to Ho Chi Minh City (Saigon) Tan Son Nhat International Airport, Ha noi (Noi Bai International Airport), Rach Gia (Rach Gia Airport), Can Tho (Can Tho International Airport). Phu Quoc Airport was closed and replaced by the new Phu Quoc International Airport from December 2, 2012. Phu Quoc is also linked with Rach Gia and Hà Tiên by fast ferry hydrofoils.
With the opening of the new Vinmec Phu Quoc International Hospital in June 2015, Phu Quoc will add an additional source of revenue to the local economy in terms of medical services, medical tourism, and medical education.