Tertiary economic sectors refer to the sector of an economy that focuses on providing services, rather than producing goods. This includes industries such as healthcare, education, tourism, banking, and entertainment.
Related terms
Quaternary economic sector: This term refers to the knowledge-based part of an economy that involves research, development, and information technology.
Service industry: A service industry is a subset of the tertiary sector that focuses specifically on businesses that offer intangible services to consumers.
Globalization: Globalization is a process where economies and societies become more interconnected worldwide through increased trade, communication, and cultural exchanges. It has greatly impacted tertiary economic sectors by expanding opportunities for international service provision.