Important settlements on Eysturoy are Fuglafjørður in the north and the densely populated area of the municipalities of Runavík and Nes in the south.

In December 2020, the sub-sea Eysturoyartunnilin (the Eysturoy Tunnel) was opened, creating a direct link between Runavík, Strendur and Tórshavn.

The town of Glyvrar on the eastern coast of Eysturoy is the home-base for Bakkafrost, the largest company in the Faroe Islands.

[3] Four out of ten Premier league football clubs are in Eysturoy: IF (Fuglafjørður), NSÍ (Runavík), Skála ÍF and Víkingur (Leirvík).

There are regional rowing festivals in Fuglafjørður (Varmakelda), Runavík (Eystanstevna), and one alternating between Skáli, Strendur and Vestmanna (Fjarðastevna).