Seminar 'At Your Services?: The Promise of Services-Led Development' (December 3, 2021)

Manufacturing-led development has been the traditional model for creating jobs and prosperity. But in the past three decades, the services sector has grown faster than the manufacturing sector in many developing economies. In 2019, the services sector accounted for an average of 55 percent of GDP and 45 percent of employment in developing economies.

As manufacturing’s share of economies across the development spectrum recedes, can the services sector help low- and middle-income countries catch up with high-income countries, while expanding good job opportunities? A report entitled "At Your Service? The Promise of Services-Led Development" assesses the prospects for services-led development. Its findings and their implications are encouraging for the World Bank Group’s “better jobs for more people” Jobs and Economic Transformation agenda.

At this seminar, the co-authors of the report shared the main findings.

#WorldBank #JICA