Moalboal is proud to be the Diving Capital in Cebu because of its marine sanctuaries where tons of corals in different shapes, sizes and colors can be seen. Also, fishes in wide variety including rare tropical fishes and some sharks can be found only here.

The municipality depends so much on the income generated by tourism so the government is exerting much effort in boosting the industry in the town. In expressing their gratitude to the abundance of marine floras and faunas, the town has come up with the celebration known as the “Kagasangan Festival”.