The region is vying to become the UK's number one location for outdoor activities.
Today marks a hundred years since the caves at the top of the Swansea Valley were discovered.
The International Food and Drink Festival begins in Cardiff Bay as part of the Cardiff Summer Festival.
It's an 870 mile long walk, that's made the Welsh economy more than £32million. It is the Wales Coast Path and Megan Boot has been finding out how its beauty is becoming very profitable.
Visitors to Wales' coastal path have helped to boost the Welsh economy by £32m in the last year.
The results from two surveys has found that nearly three million people were attracted to the welsh coast last year, of which 95% were visiting on a walking holiday.
The 'Visitors Survey' has also shown that local businesses have benefitted from the increased tourism.
32% of businesses taking part in the survey say the Wales Coast Path will become more important in future to the success of their business in the future.
The coastal path was opened in May last year and stretches 870 miles from Flintshire to Chepstow.
The Welsh and the UK governments should work more closely together to make Wales more competitive, according to Wales Office Minister, Baroness Jenny Randerson.
Baroness Randerson said :
"Wales has such a wealth of wonderful attractions, activities and events for visitors, and host of world-class facilities right on our doorsteps. We have so much to gain if Government and the tourism industry work together."
The tourism sector is worth £6 billion to the Welsh economy and employs more than 8% of the workforce. However, between 2002 and 2012 the Wales share of international visitors fell from 4% to 3%.
Wales' tourism industry has enjoyed a bumper summer, according to figures released today by the Welsh Government.
Almost six in 10 Welsh tourism businesses said they had received more guests or visitors this August compared to 12 months ago, with eight in 10 feeling confident about the Autumn season.
Seven in 10 Welsh attractions reported an increase in visitor numbers, while a third of the self catering sector also reported an increase.
The recent good weather is said to be the main factor behind the upturn, with many saying the sunshine has given their businesses a boost.
Tourism businesses across Wales are hoping for a bumper weekend as the last Bank Holiday of the summer gets underway.
Hotels and campsites in many of the more popular areas are sold out, and 20,000 people are also planning to fly out of Cardiff Airport.
The Great Orme at Llandudno has got interactive. One of the great views and landmarks of Wales it's attracted tourists for centuries. But it's now upped its game for the 21st Century. Rob Shelley reports.
Ministers have welcomed news that the Wales Coast Path scooped the top prize at a recent ceremony in London.
The 870-mile path won the Silver Jubilee Cup and the Exemplary Rural Planning category at the Royal Town Planning Institute awards on Wednesday evening.
Culture Minister John Griffiths said the accolade was 'thoroughly deserved', while Economy Minister Edwina Hart called the Welsh coast 'one of our most important tourism assets'.
– Edwina Hart AM, Minister for Economy, Science and Transport
The Wales Coast Path has already provided a £16m boost to the Welsh economy and has been voted by the Lonely Planet’s Best in Travel 2012 as the greatest region on earth to visit in 2012. This latest award is excellent news for the the Wales Coast path and for Wales.
Plans to turn North Wales into a top adventure destination will put North Wales "on the map" for outdoor activities.
Carole Startin from Tourism Partnership North Wales, said: "We want to be in the top five destinations and we want to become the best as far as the outdoor sector goes."
The aim is to bring 50 outdoor specialist companies on board, generate an extra £500,000 in visitor spending and create 25 new jobs in the process.
The region's outdoor sector already employs more than 8,500 people while bringing in more than £150 million a year.