Addressing Challenges of Smart Cities to Manage Assets and Resources in Emerging Markets
Addressing Challenges of Smart Cities to Manage Assets and Resources in Emerging Markets

Author(s): Bernhard Moik, Vito Bobek, Tatjana Horvat
Subject(s): Social Sciences, Economy
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Smart city; Smart technology; Emerging markets; Urbanization; Digitalization; Urban development
Summary/Abstract: Smart cities received increasing attention in recent years and more and more cities focus on becoming smart. The focus of this research is on cities from emerging markets beginning with the challenges these cities are facing now and in the future. The challenges defined are demographic and social change, urbanization, environment, digitalization, mobility, environment, and energy infrastructure. After elaborating on these challenges, their developments, and the possible consequences, potential solutions through smart technologies for cities in emerging markets to cope with these challenges are investigated. Furthermore, this research explores necessary steps and important factors for emerging market cities to become smart as well as the implementation and integration of smart solutions that work efficiently and do not cause wrong developments. Additionally, interviews with five experts working or researching the subject under study were organized. The results show that there are several challenges for cities in emerging markets led by urbanization, population growth, and issues related to infrastructure. The experts agreed that most challenges can be addressed by smart technologies, but it was pointed out that the technologies will only work if there is also social and cultural change on the part of people and structural faults are addressed. All in all, smart cities can be an appropriate solution to address and solve challenges in emerging markets if implemented in the right way.

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