footloose industry meaning
An industry where there are few advantages in any particular location, so that small differences in cost can lead to large shifts in location. This is contrasted with extractive industries tied to particular inputs, service industries which need to be close to their markets, and industries with large sunk costs, where major shifts in location are difficult.
- Diamonds and computer chips are some examples of footloose industries.
- These observers are also concerned about competition among nations for footloose industries.
- "This is a footloose industry, and by footloose I means it always goes to the path of least resistance, " said Eduardo Gamarra, director of the Latin American and Caribbean Center at Florida International University in Miami
- CHONBURI-- Once regarded as a footloose industry due to the low value-added production methods associated with it, manufacturers of computer monitors hurt by the baht flotation are now urgently trying to increase the use of local content.