2.1.5 - The service economy (tertiary) and its social and economic impacts Flashcards
what are the factors that increase service growth?
- needs to grow to support the manufacturing sector
- rising affluence (leisure - services needed)
- technological change (more links to the central SBD’s where the offices are located therefore TRAVEL EMPLOYE)
in 2018 by how much did the tertiary sector increase?
78%
what are the benefits of retailing, commercial and entertainment locating in CBD’s? (all services)
-agglomeration of face-to-face workers
- proximity
- accessible
- qualified pools of work
what are the reasons for a decline in retail in CBD’s?
- more expensive than online
- costly and time getting to and from
- open hours are limited
what are the reasons for shopping retail in CBD’s?
- social & pleasant
- shopping is leisure
- reliable as comparison to other products
what is gentrification?
making something wealthy more commercial (erasing local businesses)
why would people tend to move away from CBD’s?
- increasing population
- studentification
- cost of living
- leisure facilities
why would companies invest in gentrification?
- high returns
- accommodation demands
- could renovate older buildings cheaper
what are the negative impacts of gentrification?
- displacing locals who are less wealthy
- removal of local businesses
- property prices rise for locals and cant live there anymore
what are the positive impacts of gentrification?
- better quality estates
- more aesthetics in the neighbourhood as investment in housing
- offers more jobs as bigger corporations
where has there been growth in the service economy?
cambridge - 47% increase
why is retail declining in out-of-town areas? example of successful one? example of an unsuccessful one?
failed one is Llanishen - mainly just household jobs and people prefer to order online
some people prefer out-of-town shopping centres (like McArthurGlen) due to the the lack of congestion
