The largest industry in Rhode Island is hospitals, nursing, and residential facilities.
With a state that is so small, the economy is smaller in comparison to other states. Therefore, when you note that the hospitals, nursing, and residential facilities only contribute about $2.7 billion to the state’s GDP, you shouldn’t be too surprised. This industry hasn’t always been the state’s largest. In fact, the real estate industry is close behind, and many people feel it might one day surprise the current largest industry.
The state depends on its hospitals, nursing, and residential facilities as it brings the economic output to over 5%. The state employs nearly 125,000 people in its various hospitals, clinics, nursing homes, and other residential facilities. For such a small state, this employment number is a surprising factor.