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Liburkina L. M.

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Economic Opportunities of «Smart Cities» in the Context of the Formation of a New World Economic Order
Lutsiv R. S., Ivashchuk O. V.

Lutsiv, Ruslana S., and Ivashchuk, Oleh V. (2024) “Economic Opportunities of «Smart Cities» in the Context of the Formation of a New World Economic Order.” Business Inform 2:27–35.
https://doi.org/10.32983/2222-4459-2024-2-27-35

Section: Foreign Experience

Article is written in Ukrainian
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UDC 339.9:332.1

Abstract:
The aim of the article is to study the practice of creating new «smart cities», identify their economic activity and substantiate their role in the global space, which is undergoing significant changes in the context of the formation of a new world order. The study argues that new centers of economic power are emerging in the global space – these are «smart cities» that are able to solve complex problems of a socioeconomic nature and implement the principles of sustainable development, have significant financial and technological resources. Urbanization is singled out as a dominant trend of modern global processes, which increases attention to «smart cities», because the share of the population living in cities is increasing – from 52.6% in 2012 to 56.9% in 2022. The article analyzes the development of the market of «smart cities», evaluates the forecast indicators, discloses the main economic opportunities of the new «smart cities». The project of creating a «smart city» of the future in Saudi Arabia, called Neom, has been detailed. The main investment sectors in this project are identified, which will contribute to economic growth and diversification of the city's life support. It is substantiated that this project is designed for public and private investment and will implement the highest standards of sustainable development. The factors, advantages, economic opportunities and future economic benefits of the project for both companies and future residents are identified and systematized. The scheme of the «smart city» of NAC in Egypt is analyzed. The specifics of the eco-«smart city» of the district level Thu Thiem Lotte Eco Smart City in Vietnam and the Woven City project are determined, other projects of new «smart cities» that will promote equal opportunities for all residents and form community values are analyzed. The advantages of «smart cities», which will ultimately improve the quality of life of the population, reduce costs and increase the efficiency of the city as a whole, are identified. In the future, the results of the activities of new «smart cities» will depend on their ability to quickly respond to global challenges, technological changes and investment difficulties, competition from other, already institutionally formed, subjects of international economic relations.

Keywords: urbanization, «smart city», new economic order, sustainable development, economic opportunities, investments, international economic relations, subjects of economic diplomacy, partnership.

Fig.: 5. Bibl.: 15.

Lutsiv Ruslana S. – PhD, Lecturer, Department of International Economic Relations, West Ukrainian National University (11 Lvivska Str., Ternopil, 46009, Ukraine)
Email: [email protected]
Ivashchuk Oleh V. – Postgraduate Student, Department of International Economics, West Ukrainian National University (11 Lvivska Str., Ternopil, 46009, Ukraine)
Email: [email protected]

List of references in article

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