Although a number of people considered that industry and sector is same but it is not true. There is a slight but significant difference between them which significantly affect in their overall status. The change of status of from sector to industry may affect the overall rate of production.
In this blog we will discuss the key difference between industry and sector. Further, in this blog we will also discuss how “industry” status can benefit Real Estate.
Both industry and sector refer to various kinds of economic performances. But in generally industry refers to some specific group of companies or businesses which are engaged to the production of some specific products whereas the term ‘sector’ mainly used to refer the large sector of the economy. Industry describes specific economic activities while sector describes large portion of economic activities. In case of industry a series of companies generally operate in a similar business sphere but in case of sector there is a large number of companies which generally operate in a number of sphere. Industry is created by the breaking down of sectors.
The key difference between industry and sector are describe below:
The status of industry to the Real Estate can benefited in a number of ways such as –
There is a number of differences between industry and sector. Industry may be describe as a subset of a sector. If the Real Estate received industry status then it will bring a lot of opportunities to the sector. Both the investors and developers get benefitted when the Real Estate get industry status and thus the overall growth rate of RE will be increase.