CURRENT CHALLENGES OF URBANIZATION - ECONOMIC VIEW

Abstract

The modern economy is connected with industrialization, the development of cities and new technologies. A new reality is when the gross domestic product (GDP) of individual cities, regions or districts is greater than its value for some developed countries, and the population density in such a region increases several times a year. All this form the new economic situation, namely, the economy associated with the city as an urban center. In the future, the focus should be on researching the factors that determine successful cities as emerging cities. It is also necessary to investigate which economic factors are dominant in the new centers, in contrast to the classical approach. The authors also consider it expedient to investigate the combination of environmental factors and real estate in suburban areas, as they affect the growth or decrease of population growth, and in the future, they can play a significant role in urban development in the urban center. According to the results of the research, we consider it expedient to introduce a new definition of the term urbanization based on research and hypotheses, as well as focusing on economic factors.