There are plenty of things going on in the area. Fiestas are a regular occurence, the main ones being:
Fiesta de Los Reyes. This is the moment when the three kings of Orient bring their Christmas presents to the children, on the evening of the 5th of January. Three men dress up as the kings, one with a black face, and ride about the town in a procession, scattering sweets to the crowds of excited children. The 6th of January is the public holiday in all Spain.
Easter or Holy Week
The Easter week processions compete with one another in luxury and splendour. The parades leave each of the town´s churches to wind slowly around the streets, with their lifelike statues of Christ on the Cross and his mother the Virgin Mary in mourning.
The processions take place during the week leading up to Easter Sunday. (23 March 2008, 12 April 2009, 4 April 2010). The best days are Maundy Thursday, Good Friday and Saturday. Easter Sunday itself has less intensity generally.
Moors & Christians
This festival takes place in Mid-June and lasts for 3 days and is definitely a spectacle worth seeing.
The origins are obviously the battles following the re-conquest on the XVI and XVII century. The usual format for the fiesta is first a procession of the Moors and the Christians, then a theatrical enactment of verbal attacks and rejections by both groups, a battle enactment with skirmishes and dances, the conversion or the death of the moors, and finally homage to the patron saint.
These are generally open from 9am till 2pm and are a great place to get your souvenirs.
Mojacar is on Wednesday and Sunday, and Vera is on a Friday.
During the high season Garrucha has a nightly outdoor market on the promenade selling a variety of goods - well worth a look just to savour the atmosphere and watch the twinkling lights reflecting in the water.