What is Smart City concept?
The concept of Smart City is a relatively new idea which has been fast gathering momentum and is becoming the theme of many development plans and seminars. The definition and features which constitute a smart city concept is still very much debatable, however, since it has been part of several studies there are some key aspects which can be used to describe a smart city.
A city can be defined as a “smart city” when investments in human & social capital, traditional (transport) and modern (ICT) communication infrastructure together fuel sustainable economic development and a high quality of life, with a wise management of natural resources. It is considered to be the next step in urbanization. A smart city essentially implies an efficient city.
Contemporarily it was stressed on physical capital for developing cities but two new order capitals have acquired important seats in the sustainability of cities. Smart City stresses on the three capitals and integrates them into a common framework to form a more sustainable, competitive environment. Smart cities are formed through the interaction of Physical Capital, Social Capital and Intellectual Capital.
An urban area that creates sustainable economic development and high quality of life by excelling in multiple key areas such as economy, mobility, environment, people, living, and governance can be called a smart city.