Tertiary Industry – A business that provides services which includes doing something with manufactured product or doing something for a consumer
(Pronounced ter-shuh-ree in-duh-stree)
To remember what tertiary industry means use the following mnemonic:
The turtle should read (tertiary industry) the instructions when fitting the boiler. When you are providing a service for a consumer you should be prepared.
Tertiary industries include retail companies, hospitality and leisure companies and real estate agents. These companies retail goods manufactured by other companies, or provide non-tangible products and services.
Tertiary industries are much more widespread in developed economies such as the UK. The global networking and increased average GDP per capita lead economies to be more service-based.