Today, the economy of Falkirk is focused on Retail and Services, in contrast to the heavy industries and manufacturing sectors which contributed to the growth of the town over the last 300 years. Falkirk is a large retail centre catering to the town itself and a wide surrounding area, stretching from Cumbernauld in the west to Bo'ness in the east. The flagship retailer Marks and Spencer opened a store in Falkirk in 1936.The High Street was pedestrianised in the late 1980s and the Howgate Shopping Centre opened in 1989. A number of supermarkets including Tesco, ASDA and Morrisons have developed on peripheral sites surrounding the town centre in recent years.

The area has an equally high reputation for its new residential, retail, heritage and leisure developments and it has gained much popularity as a place to live and a place to visit.

On the first Thursday of every month, the Falkirk Wheel Car Park (lower) plays host to Scotland's biggest car cruise, where car enthusiasts meet to show their cars and enjoy the atmosphere.

Heritage and culture have importance for residents and visitors alike, with attractions such as:
Callendar House in Falkirk, an imposing mansion with a 600-year history. The Falkirk Steeple, widely regarded as the centre point of the town. Bo'ness & Kinneil Railway, offering steam-train travel
Big in Falkirk, Scotland's national street arts festival. Two football clubs: Falkirk F.C., who play in the Scottish Premier League; and East Stirlingshire F.C., who play in the Third Division. The Falkirk Wheel- the only rotary canal connector in the world. It connects the Forth and Clyde Canal to the Union canal.
Falkirk High Street is also the longest fully pedestrianised High Street in the United Kingdom.

Falkirk has two railway stations; Falkirk High and Falkirk Grahamston. Falkirk High is situated on the main Glasgow-Edinburgh line, with connections to either city running on a 15-minute frequency. At peak times 8 trains per hour stop; 4 for Glasgow Queen Street via Croy and 4 for Edinburgh Waverley via Polmont and Linlithgow. Journey times to Edinburgh vary from 27 minutes to 38 minutes depending on stopping stations and time of day; to Glasgow the journey time is between 23 and 26 minutes.

Falkirk Grahamston lies on the Edinburgh to Dunblane Line. Trains from Glasgow Queen Street on the Cumbernauld Line terminate at Falkirk Grahamston. There is also a daily direct service to London (King's Cross) provided by GNER, and the Caledonian Sleeper to London Euston also calls here.