Abstract
The peculiarities of the development of global cities and their role in the development of the world economy are considered. The trends of economic development of global cities is analysed and the main industries towards which investments are directed are identified. It is noted that innovations play a leading role in increasing competitiveness and establishing a sustainable economic and social system. Particular attention is paid to technologies that determine the sectoral and territorial structure of cities, including artificial intelligence, the Internet of Things, blockchain and 5G. The digital strategies of global cities are studied, which, despite different structure and priorities, set general principles for the development of the information technology and telecommunications sector and the implementation of its results in economic and social processes (government, infrastructure, technology parks, etc.). It is established that global cities should adhere to the developed strategy of digital transformation in determining the digital priorities. It is substantiated that the development of digital infrastructure is the basis for the creation of growth potential of global cities.
Highlights
Aim of the articleThe main purpose of this work is to determine the basic principles of development that affect the creation of the global cities’ potential in the context of digitalization
The peculiarities of the development of global cities and their role in the development of the world economy are considered
While we acknowledge the work of Ukrainian and foreign researchers in the development of basic principles and approaches to the concept of global cities, we note that a number of topical issues related to digital strategy planning still require in-depth research, especially in the context of rapid technology development and their impact on all key economic areas of city systems
Summary
The main purpose of this work is to determine the basic principles of development that affect the creation of the global cities’ potential in the context of digitalization. The greatest growth of economic and social potential of cities is associated with high rates of urbanization in developing countries, where rapid growth of economic indicators (especially GDP) is expected, namely: India, Bangladesh, China, Indonesia, Philippines. Such cities have a rather complex sectoral structure of the economy, the technological level of their industries is much higher than the national average, and they have a certain «magnetism» with unprecedented opportunities for round-the-clock production processes, productivity growth, intensification of production, introduction of innovations and unlimited prospects of harmonious personal development Megaregions unite cities whose total population ranges from 50 to 20 million people, gross output per capita is between $76,000 and $32,000 according to the data of 2018 (Table 2)
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