Advantages And Disadvantages Of Service Sector

1207 Words5 Pages
Services sector has emerged as a prominent sector among others in terms of its contribution to the nation’s income, revenue, level of employment, flow of trade crossing borders, foreign direct investment, etc. To achieve the fourth millennium development goal poverty reduction and access to basic services like education, water & health care [1], both educational as well as health care services have become crucial to a nation’s development. LPG era has led the services consumers to consume services of international standard. One among the more vital area of service sector is health care services. It is highly essential to have congruence of services provided and the expectations of the patients. It is comprehensive that quality is assured when the customer perceptions and expectations are met. In recent years, around the globe, there has been an increasing interest in health care services because of the changes in the people’s standard of living. This leads to a greater…show more content…
One among the other industries is health care industry. The healthcare industry in India is considered as one of the largest sector in terms of both revenue and workforce employment. The primary competitive advantage of the Indian healthcare industry lies in its large pool of well-trained medical professionals and India's significant cost advantage compared to other countries in Asia as well as Western countries. The cost of surgery in India is one-tenth of that in the US or Western Europe [1]. The tremendous growth of the health care industry is due to its coverage, range of services offered and increasing expenditure made by public as well private players. Besides these, reasons like a large and growing population, a booming economy, rapid urbanization, increasing diseases and also increased awareness among the people contribute towards the phenomenal growth of the Indian health care
Get Access