Evaluation of location’s attractiveness for business growth in smart development

Abstract

The issue of a location's attractiveness for business development in literature lacks approach, when attractiveness is assessed not as a set of factors which determine individual attractiveness, but as a locality's ability to attract, maintain, and create business and investments. The contribution of the research to the discipline is a multi-criterion model of factors determining the location's attractiveness for business development in the context of smart growth, as a methodological tool to evaluate and analyse the scientific problem in a question which is proposed by us. The attractiveness of a location for business development in the model is combined with the concept of smart development. A new and reliable instrument for decision-makers and managers is presented. An example of panel data analysis of 36 indicators and 3600 observations from 10 cross-sections of annual data for determining the role of quantitative indicators in attractiveness index is provided and timing lags influence is assessed. The method proposed is suitable for the attractiveness analysis of any location if the necessary data is available.

Economic efficiency and energy security of smart cities

“…Large urban centres and world's major metropolises are capable of sustaining the reliability and security of their energy supply based on the advancements in the development of their energy sectors as well as on enhancements in social efficiency and the quality of life of their dwellers (see Urbaniec, Mikul ci c, Rosen, & Dui c, 2017;Zeibote, Volkova, & Todorov, 2019;Snieska, Zykiene, & Burksaitiene, 2019;El Iysaouy, El Idrissi, Tvaronavi cien_ e, Lahbabi, & Oumnad, 2019;Tvaronavi ciene, & Slusarczyk, 2019;Al Badi, Ahshan, Hosseinzadeh, Ghorbani, & Hossain, 2020). However, all of the above requires massive investments into the novel managerial and information and communication technological solutions that would create the prerequisites for the decent level of the quality of life, ensure the focus on the socio-economic direction of the city economy, as well as the enable the smart cities to play their key functional roles.…”

Social Returns to Education: Evidence from Selected African Countries

“…Taking the case of GFCF, the positive link, although weak, recall the traditional key role devoted to investment as the main economic growth determinant (Menshikov et al, 2015;Bakari, 2017). Secondly, our estimates show that the more the attractiveness of a country, the more it grows (Sita, 2018;Snieska et al, 2019). Thus, foreign capital is a significant complementary factor for growth to domestic capital.…”

Assessment of regions using an index for a location’s attractiveness for business development

“…So far, research on many different aspects of smartness has been published worldwide, quite often on smart cities (Caragliu et al, 2011;Vinod Kumar & Dahiya, 2017) and smart specialisation strategies (Krammer, 2017), as well as on sustainable development (Gazzola et al, 2019;Martin et al, 2018) and competitiveness (Vinod Kumar & Dahiya, 2017). However, the concept of attractiveness has not been analysed in the context of the smartness approach (Snieska et al, 2019). Kumar and Dahiya (2017) and Jucevicius and Juceviciene (2015), the determinants of a location's attractiveness for business development are divided into seven groups: 1) intelligence-driven; 2) networking and infrastructure-driven; 3) sustainability-driven; 4) digitalisation-driven; 5) learningdriven; 6) agility-driven; and 7) innovativeness and knowledge-driven attractiveness.…”

“…Kumar and Dahiya (2017) and Jucevicius and Juceviciene (2015), the determinants of a location's attractiveness for business development are divided into seven groups: 1) intelligence-driven; 2) networking and infrastructure-driven; 3) sustainability-driven; 4) digitalisation-driven; 5) learningdriven; 6) agility-driven; and 7) innovativeness and knowledge-driven attractiveness. The more detailed characteristics of determinants are presented in other article, namely Snieska et al (2019).…”

“…Recently, the smartness approach has been used for the intelligent management of man-made environments (Jucevicius & Juceviciene, 2015). The smartness approach is basic for improving governance and seeking economic efficiency (Caragliu et al, 2011), for sustainable development (Gazzola et al, 2019;Martin et al, 2018;Kita & Simberov a, 2018), for competitiveness (Vinod Kumar & Dahiya, 2017) and for increasing investment attractiveness (Snieska et al, 2019). Despite the growing interest in the smartness approach, there is a lack of research combining it with the concept of attractiveness for business development.…”