Rural Development Through Geo-Economic Innovations

Abstract

Rural regions in every part of the world have to deal with the same problems regarding the development of the economy, the shortage of infrastructures, and the migration of the population outwards. The aim of the research is to study the application of geo-economic innovations, that is to say, economically targeted interventions relying on the local geographical strength, as a means of propelling sustainable rural development. Through the use of a mixed-methods approach, the study analyses secondary data on rural development indicators from 2015 to 2024 covering three developing regions and carries out primary surveys with 320 rural stakeholders, including farmers, entrepreneurs, and local officials. The study has shown that the combination of local resource mapping, value chain development, and digital connectivity under geo-economic innovations has led to a remarkable increase in rural incomes, job opportunities, and community sustainability. Regions that have been applying geo-economic strategies integrated with orthodox development approaches have already witnessed income growth of 23 to 35% more than those relying solely on the latter. However, the factors responsible for success are different among the various contexts, with infrastructure availability, institutional support, and community participation being the decisive factors. The research also points out the major obstacles which are poor access to capital, lack of technical capacity, and misalignment of policies. The results of the study will help to better comprehend the spatially-conscious development strategies and they will also serve as a source of evidence-based recommendations for policymakers, development agencies, and rural communities looking for a sustainable economic transformation.