Pravets has a population of 4,512 people. Mountains surround it, which allows for a mild climate with rare winds. In the outskirts there is an artificial lake used for fishing and recreation. The town is the birthplace of Bulgaria's longtime communist president Todor Zhivkov. The first microprocessor factory in Bulgaria was established in Pravets. The computers produced there, which were among the first in Bulgaria, were named Pravetz.
Today, the town is most famous for its computers and technology systems high school and the Hyatt Pravets golf resort complex. There is also a language high school by the name of Aleko Konstantinov. It prepares many students who continue their undergraduate education in Bulgaria, England, the US, Germany, and France. The Professional Computing and Technology Systems high school is one of two technical schools in Bulgaria, which prepares students for the Technical University in Sofia, Bulgaria, and allows for direct admission to the university to its top students.