The Cataract Gorge Reserve is one of Launceston and northern Tasmania's premier tourist attractions. The First Basin on the southern side features a swimming pool, and an open area surrounded by bushland. The shady northern side named the Cliff Grounds, is a Victorian garden where wilderness is complemented with ferns and exotic plants.

The chairlift crossing the Gorge is the longest single span chairlift in the world, with the longest span being 308 m (924 ft). The chairlift, built in 1972, has a total span of 457 m.

The Gorge can also be crossed by the Alexandra Suspension Bridge, a swinging pedestrian bridge built in 1895.