City and Cultural Investments

Nowadays, the modern discourse and world view in urban studies represent the new requirements and tendencies in such areas as economics, politics, and culture in the cities. The contemporary global cities, despite the economic-social divisions and gaps, manifest a different view, both culture- and cultural-economy-wise. The experimental studies show that the effect of globalization and extra-national cooperation on the variations of the urban economics is greatly important and with the shift of focus from instrument-based economy and industry to knowledge- based economy and industry, urban development is also strengthened. The main purpose of this article is to practically study and utilize the views which are effective in the formation of the functionality of the world cities. The current study investigates into and analyzes the effects and the consequences of some activities and cultural industries on the strengthening and flourishing of urban economy, especially of the cities intending to join the group of the global cities. The results put emphasis on the ever-increasing importance of the capital and the cultural capabilities in the process of economic planning of the cities and also the role of such planning in restoration of urban spaces.