Financial and Insurance Services – Economics and Employment
The Financial and Insurance Services Industry is emerging as one of the Sunshine Coast’s strongest growth engines – fuelling prosperity for both individuals and businesses. As the region continues to diversify and modernise, this sector is playing a pivotal role in building a resilient, future-ready economy under the Sunshine Coast Regional Economic Development Strategy (REDS).
A Growing Contributor to the Economy
Productivity in the sector has shown steady growth over the past decade, with a 4% increase from 2023 to 2024 alone. Today, Financial and Insurance Services contribute 7.7% of the Sunshine Coast’s total economic value add, underlining its resilience and expanding influence.
Skilled and Educated Workforce
The industry is powered by a highly qualified workforce. A large share of employees hold a Bachelor degree or higher, well above both regional and state averages. This reflects the specialised, knowledge-driven nature of financial and insurance services and aligns with REDS’ focus on skills development to future-proof the local economy.
Rising Employment Opportunities
Employment in the sector has gained significant momentum in recent years. After a long period of stability, job growth accelerated from 2021 onward, with a 4.8% jump between 2023 and 2024. Today, the industry employs 3.5% of the Sunshine Coast’s workforce, with growth driven by digital transformation, population expansion, and increasing demand for financial services.
National Reach, Local Strength
Unlike many industries, Financial and Insurance Services on the Sunshine Coast are less reliant on local markets and more connected to the national economy. Domestic exports account for a larger share of output than the state average, highlighting strong inter-regional demand. However, international exports remain limited – pointing to an opportunity for greater global engagement in the years ahead.
Workforce Demographics
The sector’s workforce is both young and experienced, with higher representation of employees under 24 and over 65 compared to the Queensland average. The average age is 40—slightly younger than the state average—suggesting the Sunshine Coast is attracting early-career professionals while maintaining experienced talent. Gender balance is also strong, with a near even split between male (54%) and female (46%) workers.
Business Landscape
Financial and Insurance Services businesses are spread across the region, with concentrations in key urban hubs such as Maroochydore and Caloundra. Smaller clusters across inland areas reflect the sector’s adaptability and accessibility, ensuring broad regional coverage and reinforcing REDS’ goal of inclusive economic growth.
Income Distribution
Most employees fall within the mid-income range ($800–$1,249 per week), with fewer workers in the higher earning brackets compared to Queensland overall. While this points to strong employment stability, it also highlights the need to build career pathways and boost wage growth to retain top talent in the sector.
Looking Ahead
The Sunshine Coast’s Financial and Insurance Services sector is on a solid growth trajectory. With rising productivity, increasing employment, and a highly skilled workforce, the industry is well-positioned to strengthen its role in the region’s economic future. Opportunities lie in boosting international market engagement, enhancing career development, and addressing income equity to ensure long-term sustainability.
Backed by the Sunshine Coast Regional Economic Development Strategy, the sector is set to remain a cornerstone of the region’s evolving, resilient economy.
Source: Level Up, Sunshine Coast Council
