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Cities - key for Europe
Today 78% of European citizens live in cities, and 85% of the EU’s GDP is generated in cities. Many European cities are forerunners in the much-needed transition towards a low carbon, resource efficient and competitive economy. Cities are central to delivering on key challenges for Europe’s society and economy: jobs, growth and investment, innovation, energy- effi ciency, low-carbon development and CO -reduction - to name a few.
Why smart cities and communities?
OPPORTUNITIES: Linking and upgrading infrastructures, technologies and services in key urban sectors (transport, buildings, energy, ICT) in a smart way will improve quality of life, competitiveness and sustainability of our cities. This is a strong growth market, estimated globally to be worth €1.3 trillion in 2020 - a great export market for European business.
CHALLENGES: Markets are often fragmented, missing out on their full economic potential. Many innovative solutions require new business models and fi nancing solutions for decreasing risk. Since demand for better infrastructures and services is high and still increasing but public budget is under pressure, knowledge needs to be shared effectively and capacities developed.