Activities primarily providing intangible benefits to individuals or households characterize a sector of the economy. These activities fulfill personal wants and needs rather than producing goods. Examples include hospitality, entertainment, healthcare, and financial advice. The defining feature is the direct provision of a non-physical output that improves a recipient’s condition or lifestyle.
The availability of these offerings enhances quality of life and contributes significantly to economic growth. A robust sector of this kind indicates a thriving economy where individuals have disposable income and leisure time. Historically, their expansion has mirrored societal development, with increased specialization leading to a wider array of options catering to diverse requirements and preferences.