Smart City 4.0 as the concept of strategically managed sustainable urbanism

Abstract

Abstract

Background: Smart technologies serve as a bridge between strategic business goals and sustainable development, creating a synergy among the economic, environmental, and social dimensions of business and circular urbanism.

Purpose: The objective of this paper is to analyse the impact of implementing smart technologies on the economic benefits for an urban centre in a Central European Union state.

Study design/methodology/approach: The research employs an econometric model to predict financial savings (30%, 40%, and 55%) resulting from the implementation of smart technologies in waste management within a selected urban centre.

Findings/conclusions: The predictions confirmed the existence of a positive and growing trend in financial savings across all analysed areas, highlighting the economic benefits of smart technology adoption.

Limitations/future research: The limitations of the research consist of inconsistencies in the implementation of smart technologies in waste management across different municipalities within the analysed country. Future research could expand the research sample to multiple urban centres and countries after the introduction of legislation that incentivises the uniform adoption of current smart technologies and the publication of up-to-date implementation data. This would facilitate the development of sustainable strategic plans and decisions that are tailored to both national level and local needs of individual urban centres, offering effective and long-term solutions for sustainable urban development.