Streaky Bay is a picturesque coastal resort which acts as a service centre for the surrounding rural community, with wheat, barley, wool and fat lambs being the main activity on the land.
The most valuable catches in this area are the famous King George whiting, southern rock lobster (or crayfish), abalone and shark. Many other species of fish abound in Streaky Bay waters, including salmon, snapper, garfish, snook, tommy ruffs, flounder, trevally, squid, blue swimmer and sand crabs, razorfish, scallops and other varieties of whiting. Oyster farms are also being developed.
Streaky Bay was originally named 'Flinders', but in 1940 after continued local usage, the name of the town was officially changed to Streaky Bay.