Quaternary Industry – A business involved in information based services offering high technical knowledge
(Pronounced kwor-tuh-neh-ree in-duh-stree)
To remember what quaternary industry means use the following mnemonic:
The headquarters seemed very ordinary (quaternary industry) for such an advanced business involved in information based services.
Quaternary industries provide services, but they mainly focus on more specialised, high-tech areas. Computing, information and communication technologies, consultancy and research and development are typical examples of quaternary industries.
Combined with tertiary industries, these sectors employ 76% of the UK’s workforce in 2020, making them by far the largest part of the economy. Quaternary industries are mainly located in countries with high economic development. A highly educated and highly skilled workforce is required to work in quaternary industries, which is more commonly found in these countries.