Background of the Study It has been examined that the “service sector” is one of the fastest and largest growing sector within modern world economy, contributing major portion within the total output along with the highest employment rate in most of the developed countries and third world countries. It has been claimed in past studies that, for almost 124 states from the year 1970 to the year 1980 with upsurge in service sector were able to raise the GDP of economies of all those states.