According to the accounts of the foreign travelers, the Vijayanagar Empire was one of the wealthiest parts of the world at that time. Agriculture continued to be the chief occupation of the people. The Vijayanagar rulers provided a stimulus to its further growth by providing irrigation facilities. New tanks were built and dams were constructed across the rivers like Tunghabadra. Nuniz refers to the excavation of canals.
There were numerous industries and they were organized into guilds. Metal workers and other craftsmen flourished during this period. Diamond mines were located in Kurnool and Anantapur district. Vijayanagar was also a great centre of trade. The chief gold coin was the varaha but weights and measures varied from place to place. Inland, coastal and overseas trade led to the general prosperity. There were a number of seaports on the Malabar coast, the chief being Cannanore. Commercial contacts with Arabia, Persia, South Africa and Portugal on the west and with Burma, Malay peninsula and China on the east flourished. The chief items of exports were cotton and silk clothes, spices, rice, iron, saltpeter and sugar. The imports consisted of horses, pearls, copper, coral, mercury, China silk and velvet clothes. The art of shipbuilding had developed.
The temple building activity further gained momentum during the Vijayanagar rule. The chief characteristics of the Vijayanagara architecture were the construction of tall Raya Gopurams or gateways and the Kalyanamandapam with carved pillars in the temple premises. The sculptures on the pillars were carved with distinctive features. The horse was the most common animal found in these pillars. Large mandapams contain one hundred pillars as well as one thousand pillars in some big temples. These mandapams were used for seating the deity on festival occasions. Also, many Amman shrines were added to the already existing temples during this period.
The most important temples of the Vijayanagar style were found in the Hampi ruins or the city of Vijayanagar. Vittalaswamy and Hazara Ramaswamy temples were the best examples of this style. The Varadharaja and Ekamparanatha temples at Kanchipuram stand as examples for the magnificence of the Vijayanagara style of temple architecture. The Raya Gopurams at Thiruvannamalai and Chidambaram speak the glorious epoch of Vijayanagar. They were continued by the Nayak rulers in the later period. The metal images of Krishna Deva Raya and his queens at Tirupati are examples for casting of metal images. Music Elephant Chariot - Hampi Ruins and dancing were also patronized by the rulers of Vijayanagar.
Different languages such as Sanskrit, Telugu, Kannada and Tamil flourished in the regions. There was a great development in Sanskrit and Telugu literature. The peak of literary achievement was reached during the reign of Krishna Deva Raya. He himself was a scholar in Sanskrit and Telugu. His famous court poet Allasani Peddanna was distinguished in Telugu literature. Thus the cultural contributions of the Vijayanagar rulers were many-sided and remarkable.