Dunoon the popularity of overseas travel increased. In 1961, during the height of the Cold War, Dunoon became a garrison town to the United States Navy. In 1992, they closed their Holy Loch base, and Dunoon suffered an economic downturn. Since the base's closure, the town and surrounding area are again turning to tourism, marketing to outdoor enthusiasts and wildlife lovers as well as promoting festivals and competitions. The largest annual event held in the town is the Cowal Highland Gathering. The Royal National Mòd has been held in the town seven times and in 2018 will again be held at
Lake Cowal benefits economically to the town of West Wyalong with increased employment. Barrick Gold was granted a "Section 90" by National Parks and Wildlife. Lake Cowal is known as the heartland of the Wiradjuri nation and is rich in artifacts. Wiradjuri elder Neville "Chappy" Williams led a campaign to save Lake Cowal and the Wiradjuri heartland. The Lake Cowal Campaign aims to prevent further gold mining by Evolution Mining in the environmentally-fragile area around Lake Cowal and to stop land degradation and possible toxicity problems from the mine and its tailing dams. The Wiradjuri people are being joined in their campaign