Definition, Meaning & Synonyms

economically-important

Adjective

/ˌiːkəˈnɑːmɪkli ɪmˈpɔːrtənt/

Definition

Referring to something that holds significant value or influence in the economic context, affecting wealth generation, job creation, or resource distribution.

Examples

Many sectors of agriculture are considered economically-important due to their contribution to food supply.
The tech industry is economically-important as it drives innovation and job creation.
Tourism is an economically-important sector for many countries, boosting local economies.

Meaning

The term ‘economically-important’ describes entities, industries, or sectors that have a major impact on the economy, either by generating revenue, providing employment, or contributing to the overall economic health.