Livingstone used to be the capital of Zambia (was called Northern Rhodesia then) and it has old Edwardian colonial buildings lining the city's main road.  The capital was moved to Lusaka in 1935 and Livingstone is now a quiet town.

 

Livingstone's main attraction today is it's proximity to the Victoria Falls.

Most of the activities offered on the Zimbabwe side of Victoria Falls are offered from Livingstone too.  Some of these include White Water rafting, horse riding trails, Abseiling, Gorge Swinging, Bungi Jumping, Kayaking, Microlighting over the Victoria Falls, Elephant back safaris, Jet boating, fishing, Helicopter flips over the Victoria Falls.  There is also a 18 hole golf course.

The Victoria Falls are in peak flood around March and April when the power of the water causes the spray to limit the view (unless you microlight or helicopter over the falls) and the falls become little rivulets with some completely dry areas from October - December so it is important to consider this when planning your trip.  (The Zimbabwe side flows all year)