Different Emerging Industries; What You Need To Know
Industries are the bedrock of the economy of any country. Depending on the contribution done to the economy of a country by different industries they are categorized as major and minor industries. Industries are also categorized as primary, secondary and tertiary. Agriculture and mining are two examples for primary industries and such industries deal with raw materials. Secondary industry is founded on construction and manufacturing while the tertiary industry is considered as the service industry. When a country is being transformed from an under developed to a developed one the focus on the industries shifts gradually from primary to tertiary. Some industries that are emerging and important factors you need to know about them are discussed below.
Food industry is one of the main industries that secure a greater portion of the gross domestic products of a country. There are diverse areas involved in the food industry such as agriculture, food processing, marketing, hotels. These areas together help food industry stand out as an important industry of a country. You might have seen that food has attracted great attention with the globalization and many countries take an interest in experiencing foreign food which has increased the import and export market of peculiar ingredients used for food in countries.
Sports has gained a great popularity among people within a short period of time and it has become an industry that contribute to the economy of a country. Sports industry is a market for many sports related goods, services, promotion, facilitation, etc. For instance horse racing Australia has been proved to have created lots of job opportunities and have contributed significantly for the economy of the country. In United States of America basketball is a very successful avenue to invest on due to the popularity and significance placed on that game in the country. Likewise many countries which have peculiar and specialized sports have developed sport as a distinct industry. The increased attention placed on exercises to improve health standards is also seen as a reason that supplements the upliftment of sports industry.
With the advancement of transportation, technology and communication number of people moving to and from countries have increased rapidly making a great change to the economy of the countries. You might have seen that many countries with tourist attractions invest largely in hotels, shopping complexes, luxury vehicle services due to the vast opportunities in the industry of horse race tipping. Even the education is refined to make use of the opportunities created in the tourism industry by mostly emphasizing on learning of languages, international practices or etiquettes. Many job opportunities have also arisen in this industry and the contribution it gives to the economy is significant.