Abstract
The paper is focused on the development of urban space on the basis of the modern urban development concepts. The role of urban environment in the development of individuals, their physical, intellectual and spiritual potential is described with the use of human capital theory. The City Recreation concept is suggested to be accounted while planning the urban territory development. The role of recreation areas in urban environment is described, classification of urban recreation areas is given. The paper recites the results of a social study devoted to evaluation of satisfaction of typical urban district residents with the number and quality of recreation areas. Recommendations are given on public spaces expansion to provide daily recreation.
Highlights
Human capital becomes one of the main production factors in post-industrial economy
As Klaus Schwab, the Founder and Executive Chairman of World Economic Forum, said: “The key for the future of any country and any institution lies in the talent, skills and capabilities of its people” [1], “Talent, not capital, will be the key factor linking innovation, competitiveness and growth in the 21st century” [2]
Human capital undergoes the stages of its creation, distribution, exchange and use. This is reflected in The Human Capital Reports where Human Capital Index is evaluated with the account of the stage of human capital formation, i.e. learning, and the stage of use of human capital, i.e. employment [1, 2]
Summary
Human capital becomes one of the main production factors in post-industrial economy. Economic growth of a state and the level of population well-being are largely defined by its accumulated human capital. One of the consequences of global urbanization processes is concentration of human capital on urban territories. Multiple studies, including those performed by the authors of the paper, show that modern cities become attraction centers both for investment capital and human capital. The most economically developed territories get a strong incentive for economic growth and become ever more successful by attracting investment and human capital. Attractiveness of urban areas for human capital becomes the major competitive advantage of the territory in the global labor and capital markets
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