Urban green spaces have a significant impact on local economies, creating a cycle that gives back to the community over and over again.
When viewed economically, the value of green spaces is undeniable. Widely accepted statistics show a 5 – 7% increase in property prices if they overlook a green space. Here we take a look at how investing in urban green spaces can have a significant impact on the local economy.
Urban green spaces and employment
There are obvious and important employment opportunities involved in landscape development. These include roles such as planners, architects and landscaping professionals. But employment benefits generated by green spaces don’t stop once the area’s created. For many roles, that’s just where it begins.
The very existence of green spaces means they need management, and this results in long-term employment opportunities. From grounds maintenance through to remedial works and winter services, a lot goes into keeping urban green spaces operational. The money earned by such workers is then invested back into the local economy.
Green spaces offer significant local earning potential too. They enable small businesses to flourish, such as dog walkers, fitness instructors and street performers. Alongside this, they make a fantastic venue for local events and community gatherings. This cycle means green spaces pay back their initial development over and over as time goes on.
Tourists love green spaces
Urban green spaces are also an attraction to tourists and visitors. And where these gather, there are always opportunities to help them spend. By creating parks and green areas, there immediately arises a new demand for shops, attractions and eating venues in the location. Additionally, a rise in tourist numbers creates other opportunities, such as public transport and parking.
Here the importance of intelligent landscape design comes in. It’s important to ensure spaces cater for the long term goals of a local area. As well as this, they must be striking and visually engaging enough for people to want to spend time there.
Supporting local workers
Urban green spaces help the local workforce too. They offer a place to head to at lunchtime, and a venue to hold informal meetings or team building events. Time spent amid greenery has many advantages for workers, and the biophilia trend is well documented. So staff can return to the office refreshed, rejuvenated and exercised – ready for a productive afternoon.
Going green attracts investment
Placing an exact monetary value on the benefit of urban green spaces is not really possible. It is not just about house prices and tourist spending. There are other factors, such as cultural significance, biodiversity and local, regional or even national green goals. As a result, these factors can have a surprising influence on peoples decisions to live or invest.
So, if you are looking to create a landscaped area that benefits you local economy, get in touch today to find out how we can help.