Impact Of Commercial Developments On Cities
Commercial developments are business oriented establishments created so as to foster economic growth of a city or nation. Economic expansion has been the major contributor to the growth of cities. An increase in human population has also led to expansion of already established cities. People choose to migrate to cities in search of employment and better opportunities. Cities normally offer people with employment so that they can be able to lead better lives. However, population explosion might become a major issue especially for a stagnating city. There are different types of commercial developments today.
Normally, commercial establishments foster an environment conducive for trade. With many industries in existence today, these are environments where people go to make money. It is due to commercial buildings in cities that everyone irrespective of his background is offered s level playing field to make an economic impact over his life.
Also, commercial developments are important in the sense that they are points of interaction for people with different cultural and economic backgrounds. It is such constructive social engagements that encourage intermarriage a between people with totally different social affiliations.
Commercial developments are key in the growth and expansion of any city. Since they offer people with jobs and formal employment, people migrate from the countryside and come to live in these cities. The influx in human labor ensures that business and industries alike never run short of employees. With increased output, factories are able to expand and this also helps a city grow. People employed to run this industries are also able to make some good money at the end of the day, finances that they use to start their own businesses.
Commercial developments also help transform the general architecture of cities. As the inhabitants to a city get economically stable, they start putting up new buildings. A majority of these buildings are constructed putting the latest architectural designs in mind. In the long run, the city landscape is transformed. Hence, commercial developments aid old cities keep up with new trends.
Land is generally a scarce commodity all over the world. Increased demand and limited supply causes land prices to escalate. Land prices in cities are normally monumental since they supply of land cannot be able to meet its demand. This is due to the fact that cities are products of highly commercialized spaces. Therefore, commercial zones that have been heavily built generally increase the economic value of a city due to the fact that they have better facilities and amenities.
Thus, commercial developments are vital for the sustenance and growth of any city in the world. It is therefore wise governments and private institutions to advocate for the construction of more commercial developments so that they can be able to boost the economy of their cites and country at large.