Smart City Development in Eastern Economic Corridor from the Perspective of Industrial Sector

Abstract

Objectives: This research aims to study the development of smart cities in the Eastern Economic Corridor (EEC) area from the perspective of the industrial business sector and develop a structural equation model. Theoretical framework: The study is based on the 20-year National Strategy, which emphasizes smart city development as an approach to distribute economic, social, and technological prosperity, particularly in areas of economic importance to the country, such as the EEC. Methods: The research was conducted using both qualitative and quantitative methods. Quantitative data was collected from questionnaires administered to 500 executives in the target industrial businesses of the EEC, employing descriptive statistics, inferential statistics, and multivariate statistics. Results and Conclusion: The research findings reveal that the development priorities are ranked into four components: 1) Enterprise Management (= 4.34), 2) Community Operation (= 4.33), 3) Public Administration (= 4.32), and 4) City Regulation (= 4.26). The hypothesis testing results show that existing high-potential industrial businesses (First S-Curve) and future industrial businesses (New S-Curve) place significantly different importance on the development of smart cities in the EEC area at a statistical significance level of 0.05. The developed structural equation model meets the assessment criteria and is consistent with the empirical data. Implications of the research: The findings of this study can inform policymakers and stakeholders in the EEC area about the key components and priorities for smart city development from the perspective of the industrial business sector. The structural equation model can serve as a framework for guiding smart city development efforts in the region. Originality/value: This research contributes to the understanding of smart city development in the context of the EEC area in Thailand, focusing on the perspective of the industrial business sector. The developed structural equation model provides a novel approach to analyzing the relationships between various components of smart city development in the region.