Sustainable strategy to create multisector or unisector smart economic hubs

Abstract

Purpose

This study explores the best strategies for regional economic development to attract highly skilled populations, regardless of whether the region is a multisector or unisector economic hub. It also determines the development variables affecting the success of integrated regional economic hubs to achieve spatial equality, enhance economic productivity and attain environmental sustainability.

Design/methodology/approach

In addition to a qualitative analysis, this study employed quantitative techniques using SPSS software. This allowed amplification of the most significant explanatory variables affecting the weaknesses and strengths of economic hubs.

Findings

The results highlight approaches that can be used to achieve socio-economic sustainability in regional hubs. These include multisectors or main centralised hubs (smart economic regional capital), which provide new services to regions and act as a unidevelopment sector or as a regional, economic capital.

Research limitations/implications

The study analyses the effect of economic strategies and integration of natural resources and the required core services in regional economic development.

Practical implications

Case studies of successful economic hubs are discussed. The most important services proposed in such hubs promote human development and increase the standard of living.

Social implications

Integration between the hubs in a region is fundamental to attracting direct investments that can benefit the local population.

Originality/value

The results could help governments, economists and planners implement multisector developmental hubs to achieve sustainable development.

Citation

Rasmy, M.O., Abu Atta, T.A.L. and Mohamed Ibrahim, A.A. (2022), "Sustainable strategy to create multisector or unisector smart economic hubs", Smart and Sustainable Built Environment, Vol. 11 No. 3, pp. 692-716. https://doi.org/10.1108/SASBE-06-2020-0084