Balaklava hosts the annual Balaklava Cup horse racing carnival each August. Balaklava also holds its own music Eisteddfod every year in early August. It has been running since 1997 and is a major event for the townships attracting people from Adelaide. Yorke Peninsula and the Mid North areas.

The local newspaper is the Plains Producer.

Balaklava has many sporting facilities and clubs, such as the local basketball competitions, cricket and tennis in summer, with football and netball in winter. The basketball, netball & tennis courts along with the newly developed indoor cricket nets are all centralised on the one ground, Ralli Park, with the oval 20 metres away. Balaklava also has it own solar heated swimming pool complex, which is open to the public from mid October through to April.

The township of Balaklava has four education institutions – the Balaklava Community Kindergarten, Balaklava Primary School, Balaklava High School and the Balaklava Horizon Christian School.