Elterwater is a village in the English Lake District and the county of Cumbria. The Village lies half a mile (800 m) north-west of the lake of Elter Water, from which it derives its name. Both are situated in The Valley of Great Langdale. Elterwater is thought to derive from the Norse for swan lake.. swans being a common sight on the nearby lake. In the past, the principal industries have been farming and quarrying, with evidence of both still very visible. In the present day, tourism is the principal source of income.