The relatively limited industry revolves around agricultural processing such as oil and dairy products.

Near the town is a vast archaeological site known as Las Peñas de los Gitanos, famous for its prehistoric tombs and remains of Roman and Visigothic settlements.

Montefrío's main road has many shops, cafes, bars and restaurants which are independently run.

Montefrio is limited on the north with the municipalities of Priego de Córdoba and Almedinilla (Córdoba) and Alcalá la Real (Jaén); the southeast with íllora, on the south by Villanueva Mesia and Stump; and on the southwest by Loja and Algarinejo, the latter belonging to the province of Granada.

[clarification needed] The beginning is in the late afternoon and after a day of olive picking and last until the early hours of the night.

Flush (coffee with anise) and typical local products such as chorizo and morcilla grilled are taken.

The origin of the festival is unknown, but is believed that the party is related with the one celebrated in Los Verdiales (Málaga) because of the similarity of its outfit.

The party seeks to be declared by their ancestral origin and singularity of interest by the Junta de Andalucía.

From the A92, exit Huétor-Tájar, then up the road connecting the two towns, bordering the creek Milanos, which is the best option.

As for livestock, Montefrío in the eighteenth century became one of the most important pastoral areas of eastern Andalusia (about 50,000 head of cattle).

Tourism in Montefrío has escalated in recent years having been named a top 10 National Geographic[2] views of a pueblo (town) in 2017.

With so much to see and do in Montefrío its culture, fiestas, famous heritage sites and award winning produce attracts tourists throughout the year.