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Originally a fishing village, it is now primarily a tourist attraction, although its inhabitants still fish for lobster and the village still maintains a rustic appearance. It has a classic red-and-white lighthouse, retired from active service on a rocky point.
Perhaps the most-photographed place in Atlantic Canada, the lighthouse now contains a small Canada Post office. Visitors can visit the lighthouse itself and go walking on the rocky shore. A sign warns visitors that the unpredictable surf carries away several incautious visitors a year.
Nearby is a memorial to the victims of the Swissair Flight 111 air disaster, which crashed into the sea off Peggys Cove in 1998.