The historic town, of 301 people at the 2016 census,[1] is a trout fishing centre and winter sports destination situated at 1,017 metres (3,337 ft) above sea level.

It is also a popular destination for horse riders, bushwalkers, fly-fishermen and water sports enthusiasts as well as a base for viewing aspects of the Snowy Mountains Scheme.

The historic Bolaro Station and scenic Yaouk Valley are located near the township and Charlie McKeahnie, said to be the inspiration for The Man From Snowy River, a poem by Banjo Paterson, lived and died in the district.

[6] Some historians believe that Banjo Paterson's most famous poem, "The Man from Snowy River", may have been inspired by the exploits of an Adaminaby stockman, Charlie McKeahnie.

The most momentous episode in the town's history, came with the construction of the vast network of tunnels and dams of the Snowy Mountains Hydro-Electric Scheme, which began at Adaminaby in 1949.

A prolonged drought saw the ruins of the old township begin to resurface in April 2007,[12][13] attracting the attention of global media – and even comparisons to the mythical city of Atlantis.

[17] Adaminaby is today a good base from which to view different aspects of the Snowy Scheme, including nearby Lake Eucumbene, Tantangara Dam, Tumut 2 Power Station and Cabramurra, Australia's highest town.

A number of tourist villages and camping grounds have been established around Lake Eucumbene near Adaminaby, including Anglers Reach and Providence Portal.

The Snowgoose Hotel and Snowy Mountains Motel became longstanding providers of accommodation for skiers and fishermen visiting Adminaby, while farmstay resorts and lakeside cottages and caravan parks have been developed to take advantage of the natural environment surrounding Adaminaby.

Relics of Australian pioneer history can be found throughout the Adaminaby high country district – including a number of mountain huts and the ghost township of Kiandra – initially neglected by the National Parks and Wildlife Service but more recently the subject of extensive restoration and heritage work.

The Big Trout was built by Andy Lomnici and was restored and repainted by Skins Alive in January 2007, with funding from the former Snowy River Shire Council.

Another site 20 km to the north (Yaouk, since 1969) records significantly greater rainfall due to its higher elevation and proximity to the dividing range.