unit three Flashcards
describe the tertiary sector
the service sector including entertainment, retail tourism and finance. in a developed economy the service sector is the biggest component of the economy
what % of the economy and % employment does the tertiary sector account for?
80%
what is gentrification?
the displacement of working class populations in an area as more affluent people move in. this process results in increased house prices and changing local services to represent the new demographic
what are the three stages of gentrification?
- the early stage
- the transitional stage
- the late stage
what happens in the early stage of gentrification?
in run down working class/inner city locations, “urban pioneer” groups move in to take advantage of low rent costs. this causes an artistic community to develop with new services such as indie coffee shops and ethical stores
there is a limited impact on the existing working class residents and property prices
what happens in the transitional stage of gentrification?
the reputation is enhanced due to the new urban pioneers moving in triggering more affluent people to move in to make use of the new positive social vibe, alongside this tourism increases and the demand for property increases causing a rise in house prices. a lot of the initial working class residents are outpriced and replaced by more affluent people
describe the late stage of gentrification
the reputation of an area is firmly established as a trendy affluent and upcoming area as more wealthier residents are attracted to moving in there. private investments usually take place and the original working class and urban pioneers are outpriced, and forced to relocate
what is the gentrification case study?
shoreditch
where is shoreditch?
an inner city located in hackney, london
when did shoreditch experience the early stage of gentrification and what happened?
in the 1990s urban pioneers such as Alexander McQueen moved. greasy spoon cafes still operated but street art was being created and raves were happening in warehouses
when did shoreditch experience the transitional stage of gentrification and what happened?
in the 2000s the area had become one of the trendiest places in london attracting an influx of affluent hipsters and businesses with rising property prices
what happened to shoreditch house prices between 2005 and 2010?
increased by 53% going from 220,000 to 350,000
when did shoreditch experience the late stage of gentrification and what happened?
from the 2010s to present day the demographic of shoreditch has been firmly established as a wealthy middle class area with a plethora of services to match the growing affluence
by how much % have professional occupations risen in shoreditch between 1990 and 2010?
they have gone from 7% in 1990 to 18% in 2010 ( a rise of 11%)
what cafe in shoreditch was targetted with anti-gentrification protests?
the cereal killer cafe