The city's economy is largely based on tourism related to its title as the "Folk Music Capital of the World".

[4] The city is also known for outdoors recreation opportunities, including Blanchard Springs Caverns, trout fishing on the White River and the Ozark National Forest.

Many others seek the world-renowned trout fishing of the White River, or the excellent camping, hiking and mountain-biking that can be found in the Ozark National Forest.

The remainder of the local economy consists mostly of agriculture, specifically the farming of livestock, primarily cattle and chickens.

Local festivals play an integral part in Mountain View's economy and culture, and the city is widely known throughout the country for its hospitality, uniqueness and relaxed pace of life.

A highlight of this festival is an old-fashioned "home-town" parade, which brings out school bands, patriotic veterans groups, show horses, and decorated floats.

During the spring, summer and fall, anytime the weather is nice, people from all over will gather in and around the courthouse square to play and listen to music.

Bluegrass mostly, but a wide array of folk, swing, country and gospel can be heard performed by local townsfolk as well as pickers from hundreds of miles away.

During the fourth weekend of October, thousands attend the Arkansas Bean Fest and Great Championship Outhouse Races.

Early Saturday morning, nearly one ton of pinto beans are cooked in large, antique iron kettles that are set up along the west side of the courthouse square.

Promptly at noon, a couple thousand pounds of pinto beans and cornbread are served to the gathered crowd.

Local teams (and anyone who else who wishes to haul in an entry) push outhouses built on wheels (similar to a go-kart) in a series of races.