Key Economic Sectors: Tourism, Industry and Trade Explained
Sector 3 – Tourist Interest
Areas with the first high tourist influx.
Highway: Roadways of high capacity, endowed with both circulation and free access to nodes.
Balance of payments: Accounting document that records the economic operations of a country with the rest of the world.
Commercial balance: Accounting document that records the differences between imports and exports.
Commerce: Economic activity that exchanges products and services between producers and consumers.
Wholesale commerce: Economic activity serving the production and retail commerce.
Retail commerce: Economic activity serving directly the production and the consumer.
Export: Sale of products to foreign markets.
Hinterland: Area influenced by a port.
Import: Purchase of foreign products.
Tertiary sector: Set of economic activities aimed at providing services to society.
Transport system: Means that allow the movement of goods and people between cities and other places.
Tertiarization of the economy: Process by which the tertiary sector gains weight in the economy with respect to the other two sectors, becoming the main sector.
Tour operator: Company that wholesales different services that form part of the tourism business.
Tourism: Temporary movement of people whose objective is leisure and non-residence.
Sector 2
External economies: Advantages that a company obtains from the environment in which it is located.
Economies of scale: Lower unit cost of production as output grows.
Holding: Financial company with participations in different companies, which controls all or part of their shares.
Capital goods industry: Industrial sector that transforms semi-elaborated products into machinery used by other industries.
Consumer goods industry: Industrial sector that manufactures goods used directly by consumers.
Basic industry: Industrial sector that transforms raw materials into semi-elaborated products.
Endogenous industrialization: Industrial development based on the advantages each location presents.
Multinational: Company that has different productive establishments in several countries and acts under a common strategy controlled centrally.
Promotion and development policies: State actions aimed at favoring, through various incentives, the implantation of industries in underdeveloped areas.
Resource: Any element that is known, discovered or can be discovered, and that is susceptible to being used, regardless of whether the technology is currently available to exploit it.
Industrial Sectors
Set of companies that share industrial activity, primarily related to the land, technology, qualification of manual labor, and the obtaining of marketable products.