How Corporate Location Decision-Makers Choose Smart Cities for Facility Investment
July 1, 2023
Smart cities harness technology to improve their urban efficiency. Compared to a traditional city, they are better prepared for sudden and rapid urbanization, power shortages, congestion and pollution. Ultimately, the intentional and creatively designed public resources improve the quality of services delivered to their citizens while reducing operational headaches — and therefore costs — for public administration.
More often than not, new smart cities are built on a master plan. With 2.5 billion people expected to be living in cities by 2050, particularly in the Global South, smart cities could be instrumental in accommodating them effectively.
A corporate location decision-maker is tasked with evaluating and deciding on cities or regions to establish headquarters or facility investment. There are numerous considerations that come into effect here but the most important is that the city fits the company’s specific business needs. There are common factors that are inevitably considered in the decision-making process: