With the decline of the coal and steel industries in the 1990s CBRM faced significant economic challenges and ongoing population decline. However, since 2017 the region has experienced steady growth. CBRM maintains economic strength in traditional sectors such as fishing and forestry, alongside key service industries including trade, transportation and warehousing, business support, education, healthcare, and hospitality. Despite this diversification, Cape Breton Island continues to face unemployment that is higher than the rest of Nova Scotia, at 8.4%, compared to 6.7%. CBRM is home to a significant
tourism industry. Nearby attractions such as the
Cape Breton Highlands,
Bras d'Or Lake and
Fortress of Louisbourg have made Cape Breton Island a tourism destination for many years. Visitors can experience the art and history that Sydney and area has to offer, or experience Sydney's surging culinary scene. A growing
cruise ship business has been making use of the port of Sydney to give cruise passengers access to the area. The Port of Sydney hosts more than 70 cruise ships per season, most notably the
Queen Mary 2,
Queen Elizabeth 2, and
MS Maasdam. A recent study found that a strong tourism cluster is emerging and will be reinforced with the recent announcement of a second cruise ship dock in Sydney. Currently, the former
Sydney Steel Corporation's site in Sydney has been transformed into the Harbourside Commercial Park focused on office and light industrial use, connected in 2010 by the Sydney Port Access Road to
Highway 125. As the province's second largest municipality, recent federal policy of increased infrastructure spending will provide added economic stimulus. ==Geography==