Chief occupations include farming, livestock breeding, leather and wool processing; horse selection centre; major industries are wood processing (furniture), textiles, chemicals and food processing, building material, printing and tourism. Đakovo is located at the intersection of the main road (M17.01, E 73) Osijek-Đakovo and the regional road Našice-Đakovo and the railroad (Ploče-Sarajevo-)Vrpolje-Osijek(-Budapest).
The Cathedral of Đakovo is the symbol of the town and the most important sacral object not only of Đakovo but also of the whole region of Slavonia. Đakovo is the seat of the Đakovo and Srijem Catholic diocese. The landscaped park from the 19th century near the bishop's palace is a horticultural monument under special protection as well as the nearby Small Park (Mali Park) dating from the turn of the 19th/20th century.
The central traditional event is called Đakovački Vezovi (Đakovo Embroidery), a folklore show of the regions Slavonia and Baranja (beginning of July), presenting traditional folk costumes, folklore dancing and singing groups, customs. The Cathedral hosts choirs, opera artists, and art exhibitions are organized in the exhibition salon. The horse and wedding wagon show is a special part of the program. During the sports program on the racecourse, pure-bred white Lippizaner horses from the horse-breeding centre in Ivandvor, which has been breeding horses ever since 1506, can be seen.
The town and the surroundings offer many sports and recreation facilities, such as tennis courts, racecourse, gym, swimming pool, etc. The lakes Jošava, Mlinac, Borovik and fishponds, backwaters and canals offer fine angling opportunities. High and low game hunting is possible in the immediate surroundings or farther on Dilj Mountain.
The traditional Slavonian cuisine, famous for its meat specialities (kulen smoked pepper sausage, sausages, smoked ham), venison and freshwater fish dishes as well as exquisite wines of the Đakovo region (Weissburgunder (another name for Pinot Blanc), Traminer, Riesling) are offered both in Dakovo and its surroundings.