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The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end ...
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.
In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and ...
At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Over time, the fraction of a society's activities within each sector changes.
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
The sector is predicted to grow at an average annual rate of 10.8% to US$8.9 billion by 2026 (3.7% of GDP). Foreign tourists accounted for 35.5% of all tourism-related spending in Delhi in 2016. The largest source of foreign tourists visiting the city was the United States , which accounted for 11% of foreign tourist visits to the city.
The ensuing madness was one of the wilder and weirder stories in NFL lore — part who done it, part high-paid legal drama, part science lesson, part Rorschach test, part character assassination ...
In 2023–24, the tertiary sector of the economy (service industries) was the largest contributor to the gross domestic product of the state, contributing 54.13% of the state domestic product compared to 18% from primary sector (agriculture, forestry, mining) and 27.87% from secondary sector (industrial and manufacturing).