The Presa Sangregado Dam hydroelectric project at the western end of the lake is strategically important to Costa Rica.

From November through April the strong, dependable winds attract windsurfers and kite surfers to its western end.

Wakeboarding is gaining popularity in Costa Rica, with Lake Arenal being the center of this activity.

Stand up paddling[6] and kayaking are also popular activities for tourists visiting the lake's Eastern part near the earthen dam.

The area surrounding the lake has good hiking, biking, bird watching, and horseback riding opportunities.