Implementation of Regional Social and Economic Development Strategy Based on Use Middle-Class Potential

Abstract

This paper investigates the possibilities of using the middle-class potential in a region to facilitate the implementation of the regional development strategy. The authors demonstrate how the middle-class potential can help achieve the indicators set in the social and economic development strategy of the Vologda Oblast until 2030, as well as implement its main goal, population saving. The authors found out that the middle-class potential includes a lot of useful characteristics to facilitate the successful implementation of the social and economic development of Vologda Oblast until 2030, which makes it one of the key development factors in the territory. Thus, the authors conclude that it is feasible to develop and implement a regional social and economic development strategy based on the middle-class potential. For the convenience of the middle-class characteristics analysis, the authors suggest classifying it according to the areas of life. The analysis of middle-class characteristics showed that they currently do not comply with the desired or optimal level and tend to deteriorate due to the forecast economic downturn in the context of the COVID-19 pandemic. The optimization of middle-class parameters can be seen as a priority in the regional social and economic development strategy based on the middle-class potential. Creating a list of actions to transform the middle-class characteristics from their current state to the optimal state will be the final stage of developing the regional strategy based on the improvement of resource potential. This paper also analyzes the components of middle-class potential and, apart from the two existing components, the ‘traditional’ and the ‘new’ middle class, a third component was suggested, i.e., the retirees. These components shall be seen as a key factor in the social, economic, spiritual, and political development of the territory. To build a strategy, one needs a dream Radislav Gandapas