5 Major Benefits of Creating Better Public Spaces

Public space is all-encompassing us, an indispensable part of everyday urban life that can also provide many opportunities for people to come together and engage within the community. Public spaces are valuable assets to every city and country. Here, let’s discuss some major benefits of creating good public spaces:

· It Promotes Country Economy

· Attract Business Investments

· Positive Impact on Property Prices

· Creates Sociability

· Improves Environment and Mental Health

It Promotes Country Economy

In India, following economic liberalization public spaces like Technology Park and SEZ have played a crucial role in the growth of country economies both domestically and globally. As per data “IT Sector has increased its contribution to India’s GDP from 1.2 % to 7.7 % and market size steep rise to 191billion US Dollar”. The government initiatives like foreign direct investment (FDI), software technology park (STP), and special economic zone (SEZ) have contributed & helped to achieve this dominant position.

Attract Business Investments

A high-quality public environment creates significant impacts on business investments. As the latest report, in India, foreign direct investment (FDI) equity inflows grew up 21% to $35.33 billion in 2021 from $29.31 billion a year ago. Hence, the data witnessed that increases in investment by creating a good public space.

Positive Impact on Property Prices

A development of high-quality public spaces supports the regeneration of an area with commercial property prices increasing in those locations. In addition to that, well-managed public place has a positive impact on the price nearby domestic properties.

Creates Sociability

Many scholars & philosophers have explored the idea of ‘sociality’ in the public sphere. A well-managed public space creates an opportunity to meet new people & interacting and all come together to form the sociability of public space. This process has significant potential to improve the quality of people’s health, happiness, and well-being.

Improves Environment and Mental Health

When the physical environment is better, there will be an improvement in people’s mental well-being and health. A high-quality public space can create a relaxing and pleasing atmosphere where people can come and decompress from their stressful daily routines.

In all together public place space should be covers sociability, access & linkages, comfort & image, and uses & activities. A successful public space can inspire and attract people to engage and interact in that space. It can also be an effective way to create a positive environment.

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