The Economic Value of Public Spaces and Parks

Posted under: Enabling Environment,Why Natural Capital?


This article was originally published on Sourceable.

“Cities hold the economic key to the future of the global economy.Countries that cultivate livable cities that support vibrant communities and highly skilled adaptive work forces will be the sustainable growth cities of the future as well as successful.

But livability is a tricky thing. How many great cities build vibrant communities based on their exceptional sewer system? How many businesses and visitors do you attract to a city boasting a great rubbish collection system? How many cities promote themselves to new residents and investors on a comprehensive water supply network?

The reality is that these and many other public services are expected in a good city, but the most successful cities, the richest communities, the fastest growing cities are those that place a high priority on their public realm – their parks, open space and public plazas. Investing in well planned, meaningful public amenity makes good economic sense.

Intuitively, designers understand this, but how do we convince government, developers with investment dollars, policy makers and the decision makers that this is the case? With often very little measurable economic data to highlight the economic return on the capital investment in our parks and open space, it is increasingly difficult to influence investing more in our public realm…”

Read on at: Sourceable.