Service Industry

Service industry Industry that provides services rather than goods is known as service industry. The tertiary sector of economy (also known as the service sector or the service industry) is one of the three economic sectors, the others being the secondary sector (and the primary sector. Typically the output of this sector is content (information), service, attention, advice, experiences, and/or discussion (also known as "intangible goods"). Other examples of service sector employment include: Franchising News media Hospitality industry(e.g. restaurants, hotels, casinos) Consulting Legal practice Healthcare/hospitals Waste disposal Real estate Personal services Business services

Issues for service providers Service providers face obstacles selling services that goods-sellers rarely face. Services are not tangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed some, such as consulting and investment services, offer no guarantees of the value for price paid. Differentiation is often difficult. How does one choose one investment adviser over another, since they (and hotel providers, leisure companies,and consultants,as well as many others) often seem to provide identical services

Hospitality industry: The hospitality industry is a 3.5 trillion dollar service sector within the global economy. It is an umbrella term for a broad variety of service industries including, but not limited to, hotels, food service, casinos, and tourism. The hospitality industry is very diverse and global. The industry is cyclical; dictated by the fluctuations that occur with an economy every year. Now we’ll discuss components of hospitality industry. Hotels Food services Tourism

Hotels:

A hotel is an establishment that provides paid lodging, usually on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms and air conditioning or climate control. Additional common features found in hotel rooms are a telephone, an alarm clock, a television, and Internet connectivity; snack foods and drinks may be supplied in a minibar, and facilities for making hot drinks. Larger hotels may provide a number of additional guest facilities such as a restaurant, a swimming pool or childcare, and have conference and social function services. The cost and quality of hotels are usually indicative of the range and type of services available. Due to the enormous increase in tourism worldwide during the last decades of the 20th century, standards, especially those of smaller establishments, have improved considerably.

Food services: The foodservice (or food service) industry (US English; catering industry in British English) encompasses those places, institutions, and companies responsible for any meal prepared outside the home. This industry includes restaurants, school and hospital cafeterias, catering operations, and many other formats. Some companies manufacture products in both consumer and foodservice versions. The consumer version usually comes in individual-sized packages with elaborate label design for retail sale. The foodservice version is packaged in a much larger industrial size and often lacks the colorful label designs of the consumer version. Foodservice sales to restaurants and institutions are estimated to be approximately $400 Billion, about equal with consumer sales of foods through grocery outlets.

Tourism: Tourism is travel for recreational or leisure purposes. The World Tourism Organization defines tourists as people who "travel to and stay in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited". Tourism has become a popular global leisure activity. In 2007, there were over 903 million international tourist arrivals, with a growth of 6.6% as compared to 2006. International tourist receipts were USD 856 billion in 2007. Despite the uncertainties in

the global economy, arrivals grew at around 5% during the first four months of 2008, almost a similar growth than the same period in 2007

Tourism in pakistan: Tourism is a growing industry in Pakistan, based on its diverse cultures, peoples and landscapes. The variety of attractions range from the ruins of ancient civilizations such as Mohenjo-daro, Harappa and Taxila, to the Himalayan hill stations, which attract those interested in field and winter sports. Pakistan is home to several mountain peaks over 7000m, which attracts adventurers and mountaineers from around the world, especially K2. The northern parts of Pakistan have many old fortresses, towers and other architecture as well as the Hunza and Chitral valleys, the latter being home to the small pre-Islamic Animist Kalasha community who claim descent from the army of Alexander the Great. In the Punjab is the site of Alexander's battle on the Jhelum River and the historic city Lahore, Pakistan's cultural capital with many examples of Mughal architecture such as the Badshahi Masjid, Shalimar Gardens, Tomb of Jahangir and the Lahore Fort. To promote Pakistan's unique and various cultural heritage, the prime minister launched "Visit Pakistan 2007".

Impacts of tourism: The World Tourism Organization (UNWTO) forecasts that international tourism will continue growing at the average annual rate of 4 % With the advent of e-commerce, tourism products have become one of the most traded items on the internet.Tourism products and services have been made available through intermediaries, although tourism providers (hotels, airlines, etc.) can sell their services directly. This has put pressure on intermediaries from both on-line and traditional shops. It has been suggested there is a strong correlation between Tourism expenditure per capita and the degree to which countries play in the global context. Through tourism people can know about the people of a country and their culture closely. It can be a source of generating revenues