Tourism is by far the most significant activity in the Borough, accounting for at least 45% of the local economy.
The range and diversity of industries and institutions established in the Borough has helped to maintain economic and social vitality. Defence institutions and marine industries form an integral part of the Borough of Queenscliffe's history, development, character and employment.
Despite a period of slow decline, the Borough still retains its fishing industry, associated harbour infrastructure and support services. Diversification into charter boat operations is occurring. The Borough's strategic location at Port Phillip Heads, its regular vehicle ferry service to the Mornington Peninsula, its safe harbour and developed harbour infrastructure should be capitalised upon.
As an attractive residential location, a number of new businesses and residents find great work-life balance within the Borough of Queenscliffe.
In terms of employment in the Borough, the major contributors to local jobs are:
- Health care and social assistance (14.3%)
- Education and training (11.7%)
- Public administration and safety (11.2%)
- Accommodation and food services (10.3%)
- Retail trade (8.7%)