Profitability of Agriculture in a Service-oriented World

Abstract

In the modern world, the importance of the service sector is increasing, while the signifcance of the agricultural sector keeps declining. What does this mean for the rural areas? Will every village be forced to abandon traditional farming and pursue touristic or industrial activities in the hope of development or survival? The aim of the study is to answer the question of whether agriculture can have a potencial for further development by examining the usual profitability indicators. Through a brief analysis of the village of Zomba, I show that this is a village with a characteristic agricultural profile. By taking a closer look at the companies in Zomba, I am going to confirm using relevant data that the profitability of agriculture is outstanding in suitable areas and high-quality arable lands can still be a valuable resource for a village, and provide long-term livelihood.