Introduction

Services are now the largest contributor to gross domestic product (GDP) and employment in almost every country. In Asia-Pacific, services generate about 60 per cent of GDP, employ more than 40 per cent of the labour force, generate most new jobs and attract an increasing share (60 per cent in 2016) of greenfield foreign direct investment (FDI) projects. They are essential in raising productivity, both in industrialized and in developing economies. With a critical role of services in such diverse areas such as building infrastructure, enhancing the quality of labour force through education and health, providing supply of energy and water, and in securing peace and stability, services are also crucial for the implementation of the 2030 Agenda for Sustainable Development.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure