What is tertiary sector

The tertiary sector, also known as the service sector or service industry, refers to the sector of the economy that provides services to consumers, businesses, and other organizations. This sector includes a wide range of industries such as retail, hospitality, healthcare, finance, education, transportation, and professional services. Unlike the primary sector (which involves obtaining natural resources) and the secondary sector (which involves manufacturing and construction), the tertiary sector focuses on providing intangible goods and services. It plays a significant role in modern economies, contributing to economic growth, employment, and overall development.