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
MV Cowal the last vessel to receive the new CalMac livery, retaining the vivid CSP yellow funnel until 1974. After 24 years' service, she was laid up in East India Harbour, Greenock from early June 1977. Surviving a galley-fire on 9 June, she was moved to the James Watt Dock in 1978 and offered for sale. Increasingly forlorn and "cannibalised" for parts to keep "Arran" running, "Cowal" was finally sold to Phetouris Ferries in Greece on 5 January 1979, and left under tow for Perama on 15 May. Despite the tow parting in the Bay of Biscay, she arrived in Piraeus, and