Urban Economy and Sources of Its Efficiency as Factors Addressing the Challenges Faced by Urban Economy

Abstract

Rapid growth of density of population and overcrowded and congested cities in the Southern African region due to urban migration from people seeking a better lifestyle and job opportunities, despite high levels of urban unemployment, infrastructure and sanitation, is embedded by lack of accelerated innovation to create sustainable future for most people. However, in South Africa infrastructure is seen as an enabler weapon of development to cultivate growth and confront challenges of efficient operations that are to reduce costs of production and create access to application of modern society. With this in mind, the chapter aims to look at the extent to which sources of efficiency can be used as a tool to address the urban economic challenges affecting the global economic development in the region.