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In 2015 the United Kingdom hospitality industry employed around 2.9m people – around 9% of the UK workforce. [12] By employment, it is the UK's fourth-largest industry. The most jobs in the industry are found in London (around 500,000) and South East England (around 400,000); 18% of workers in the UK industry are in London. There are around 1 ...
A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, company, or government is willing to pay. [1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. [2] The service economy is also key to growth, for instance it accounted for 47% of economic growth in sub-Saharan Africa over the period 2000–2005 (industry contributed 37% and agriculture 16% in the same period). [2]
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
The WTTC performs and publishes research in conjunction with Oxford Economics on the economic and social impact of the travel and tourism industry. [3] The foundation of the WTTC's research activity is a set of annually produced Travel & Tourism Economic Impact Reports. These include a global report as well as 24 regional and 184 country reports.
The restaurant industry in the United States is large and quickly growing, with 10 million workers. 1 in every 12 U.S. residents work in the business, and during the 2008 recession, the industry was an anomaly in that it continued to grow. Restaurants are known for having low wages, which they claim are due to thin profit margins of 4-5%.
The Hospitality and Tourism Summit is aimed at underlining the economic importance of the hospitality industry within the UK economy and showcasing how other organisations can benefit from the Tourism industry. The first-ever The Hospitality and Tourism Summit 2012 was held at the InterContinental Park Lane, London on Friday 1 June and was ...
The ancient economy built mainly on the basis of subsistence farming. The Industrial Revolution lessened the role of subsistence farming, converting land-use to more extensive and monocultural forms of agriculture over the last three centuries. Economic growth took place mostly in the mining, construction and manufacturing industries.