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Macroeconomic Impact of Smart City Development

In: Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025)

Author

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  • Ziruo Yang

    (University of Illinois Urbana-Champaign, College of Liberal Arts & Science)

Abstract

This paper studies the impact of smart cities on the macroeconomy, mainly from three aspects: industrial upgrading, regional economic development, and the labor market. Firstly, this paper introduces the definition of smart cities, five main characteristics, and three development processes. Secondly, this paper explores the positive impact of scientific and technological progress on the production and service industries, the replacement of traditional industries, and new positions. Meanwhile, this paper believes that scientific and technological progress promotes the improvement of the talent market and the formation of intelligent transportation systems. Thirdly, the establishment of a large data pool, policy support, and practical efforts are all conducive to economic growth. Fourthly, the emergence of emerging jobs, talent training, and barrier-free information circulation help reduce income differences and equal employment opportunities, respectively. At the same time, female entrepreneurs will also receive greater support in smart cities. Finally, the case study of the construction of Smart Qingdao reflects the importance of information sharing, increasing public participation, and paying attention to local characteristics.

Suggested Citation

  • Ziruo Yang, 2025. "Macroeconomic Impact of Smart City Development," Advances in Economics, Business and Management Research, in: Maizaitulaidawati Md Husin (ed.), Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025), pages 1169-1177, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-748-9_126
    DOI: 10.2991/978-94-6463-748-9_126
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