It is a beautiful and modernly built seaside town with a rich historical and cultural heritage. It is the administrative center of the new municipality of Aristoteles. Despite the fact that Akanthos was famous for its wine, the younger people of Ierissos are engaged in fishing, shipbuilding, trade, construction of works on Mount Athos and tourism. They are also characterized as great shipbuilders, continuing a grand profession that passes solid and genuine from generation to generation. The shipyards of Ierissos are among the oldest in Greece.