SERVICE SECTOR: TRENDS IN HEALTHCARE AND TOURISMINDUSTRIES
Meaning Service Sector:
1) The tertiary sector, also known as the services sector, is one of the three main sectors of an economy, the other two being the primary and the secondary sectors.
2) The service industries involve the provision of services to businesses as well as final consumer.
3) Service sector activities can be grouped into:
a) Wholesale and retail trade.
b) Repairs of vehicles.
c) Transportation and storage.
d) Accommodation.
i)Real estate activities
j) Professional, scientific and technical activities
k) Administrative and support services.
l) Public administration.
m) Defence and social security.
n) Education human health and social work activities.
o) Arts, entertainment and recreation.
p) Activities of households as employers.
q) Activities of extra territorial organisations and bodies.
r) Other service activities.
e) Food service activities.
f) Information and communication.
g) Banking and finance.
h) Insurance activities.
The composition of units in this sector undergoes changes at a rapid pace because new units or newer service areas come into existence and others disappear with high frequency.
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