The tertiary sector is also mentioned as the service sector.
Sector is a concept with multiple meanings. In the economy , a sector is a set of productive or commercial activities. All these groups, on the other hand, can be grouped into three broad sectors: primary sector , secondary sector and tertiary sector .
The tertiary sector is also known as the service sector , as it includes those activities that do not involve the production of material goods. Companies in the tertiary sector, in this way, are dedicated to satisfying different people's needs.
It is usually said that the tertiary sector is dedicated to the organization and distribution of what the other two sectors produce: the primary sector (focused on the direct extraction of natural resources) and the secondary sector (oriented to the transformation of natural resources through industrial processes).
Activities that are part of the tertiary sector
Specifically, we can establish that the tertiary sector is made up of several areas such as these:
1-Financial activities, which would be all those related to banks, the stock market, insurance...
2-Activities that amount to services provided to companies: advice, administration, management, consulting...
3-Tourism and hospitality.
4-Activities in transportation and communication.
5-Telecommunications area, where services related to telephony would have special prominence.
6-Commercial activity, whether at the retail level, wholesale, franchisees...
7-Personal services that aim to improve the quality of life of citizens. This section can include both activities related to aesthetics (hairdressing, makeup...) and what would be the state of well-being (schools, hospitals, administration...).
8-Activities in matters of public function and administration: justice, defense, political representation...
9-Services related to leisure and culture: cinema, theater, music, sports...
10-Communication media, whether written, digital, television or radio.
11-Activities related to Information Technologies such as the Internet.
Tourism integrates the tertiary sector.
Some of their contributions to the economy
All economic sectors are considered to be fundamental for the good development of a country. However, the tertiary, specifically, brings a series of notable advantages, such as these:
-Its transportation activities not only allow cities to grow but also attract tourism and improve communications within the country.
-ICT, for example, has given a radical change to the world of work since it has allowed the creation of new jobs and new professions, it has given rise to the existence of working from home...
Main players in the tertiary sector
A supermarket , for example, is part of the tertiary sector. This type of store does not obtain the resources it sells from nature nor does it process them, but instead acquires products from the primary and secondary sectors and sells them to the final consumer.
Transport companies , schools , television channels , health clinics , telephone companies and banks are other players in the tertiary sector. As can be seen, this sector is made up of entities with very different characteristics, but which agree that they are not dedicated to the direct extraction of natural resources or industrial processes.
Some activities in the tertiary sector are sometimes included in a quaternary sector or a quinary sector , although the most popular economic theory refers to only three sectors.