THE ECONOMICS OF URBANIZATION: CHALLENGES AND STRATEGIES FOR SUSTAINABLE DEVELOPMENT
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Abstract
The process of urbanization presents both economic opportunities and challenges for sustainable development. This article explores the economics of urbanization, highlighting the challenges it brings and discussing strategies for achieving sustainable urban development. The economic benefits of urbanization include job creation, innovation, and increased productivity. However, challenges such as strain on infrastructure, social inequality, environmental sustainability, and informal settlements need to be addressed. Strategies for sustainable urban development include integrated urban planning, investments in infrastructure, affordable housing initiatives, sustainable transportation systems, and inclusive policies. By adopting these strategies, cities can harness the economic opportunities of urbanization while ensuring long-term sustainability and inclusivity for their residents.
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Urbanization, Economics, Challenges, Sustainable development, Infrastructure, Social inequality, Environmental sustainability
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