What makes the village important, which requires it to have an airport, is fish import and production of algae with a high mineral value since 1700s. There is a factory processing algae in the village, and here, most of the people either work in this factory or deal with fishery. Thanks to the interesting shapes of the mountains, where the village is settled on the foothills, the village hosts scenes from films and series. The Saga of Gisli, which is one of the sagas of Icelanders, is known to have been played out in Geirþjófsfjörður near Bíldudalur.
Bíldudalur Airport, which was constructed for the purpose of trade, health services and transportation, is located on the coast of the fjord called Árnafjørður, lying 8 kilometers south of the village. There are flights only to the capital city Reykjavík from the airport.
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