All Tristan families are farmers, owning their own stock. All land is communally owned. Livestock numbers are strictly controlled to conserve pasture and to prevent better off families accumulating wealth. No outsiders are allowed to buy land or settle on Tristan.

The islands' main source of foreign income is the lobster factory and the sale of stamps and coins to overseas collectors. Most people have dual occupations, often working for the local government. Many inhabitants have plots of land (at the patches) on which they grow potatoes.