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Human Geography

Economic Geography

Quaternary & Quinary Services

LO:Discuss the impact of global economic change on the service sector

Quaternary services – Finance and insurance

Quinary services – Education, government, health research and development

Decentralization of the service industry

LO:Discuss the growth and locational shifts in various economic activities

Suburbanization

Improvements in infrastructure: transport and communications

SOHOs

Some services still centred in CBDs

o

Central economic and government services

o

Highest accessibility (in physical space)

Causes of the Globalization of Services

Developments in IT

Service based processes can now be done through the internet

o

Finance, software development, call centres, data entry, accounting

Growing quality of labour in LDCs

Growing standardization of service products

Service diversification of manufacturing firms

Growth of international trade

Increased need for support services

o

Logistics, transport, finance, telecoms, administration

New Industries from Economic Change

Rise of SMEs

Maturing of economy, increased literacy

Fueled by stable and supportive governments

o

Pro-business

o

Provision of financial support

Seen as platforms to foster innovation and enterprise – flexibility

Hub-creation

Cluster of industries that generate several economies of scale

Concentration of similar activities in one place

De regulation, privatization of public services

Privatization of government-owned firms

Sembcorp, Singtel

*READ APPENDICES OF ECONOMIC GLOBALIZATION POWERPOINTS

MAN IMPORTANT!

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