Tertiary Sector Services Definition
The tertiary sector is the third tier of economic activity in a country, after the primary and secondary sectors. The tertiary sector includes all services that produce intangible goods, such as businesses that provide information, education, health care, legal and financial services.
The tertiary sector is the fastest-growing sector of the economy in developed countries, accounting for about two-thirds of all jobs in those countries. In developing countries, the tertiary sector is much smaller, but it is still growing rapidly.
The term ‘tertiary sector’ was first used by economists in the early 20th century to describe the growth of service industries in industrialized countries. The term has since been expanded to include all types of service providers, including government agencies and nonprofit organizations.
