Today, the economy of the community is bustling with numerous businesses and services located throughout the town. The community acts as a retail and shopping centre for a large number of small Northern Manitoba communities. Air or truck brings in goods and supplies, and are re-distributed to the communities that need them.

Gillam is located in a wilderness paradise and has built itself a thriving tourist industry. The region is dotted with thousands of untouched lakes and streams, and the opportunities for trophy fishing are almost endless. Numerous lodges and fly-in outposts attract thousands of hunters, fishers and outdoors enthusiasts each year. Many of these travelers pass through Gillam on their way in or out of the wilderness, and many of the town's businesses capitalize on this opportunity by providing goods, supplies and accommodations.