Abstract
Modern economic concepts and models are nowadays abounding, thus creating a challenge in keeping pace with the global economic and technological developments, for both institutions and individuals, often failing to grasp the true meanings and purposes of the latter; thus receding chances for economic communities to make use of the sound scientific content therein, fair value, great benefits and implied objectives to achieve economic development and welfare. In recent years, and after the spread of some the concepts such as “sustainability”, “clean and green energy”, "e- government"; the "Smart" concept is nowadays strongly imposing itself in the local scene, after UAE Federal Government and Dubai Emirate have adopted and embarked onto “Smart Progressive” plan implementation. Candid man-of-the-street assumptions would inevitably and systematically link the concept to applications for smart phones and mobile systems and the exploitation of technological resources in everyday life. Whereas, in fact this is only a part of a whole integrated and wide-ranging economic system in which technology plays a pivotal role alongside with several other most prominent and crucial factors. The present paper deals with introduction to the “Smart” economic model implementation in our City of the future, with focus on criteria, requirements, indicators and role and contribution of citizens, government and institutions, aiming at shedding the light onto a hot topic with critical impact on present and future holistic economic action plans.
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