Influence of Revitalization on the Social and Economic Well-Being of Residents: Case Study of Lithuania

The lack of public spaces, recreational areas, and sports facilities in older city neighborhoods, as well as the importance of people's social and economic well-being, have been exposed by the COVID-19 pandemic. Revitalization is used to update the physical environment of old neighborhoods; it improves not only the physical environment of the neighborhood, but also contributes to ensuring the social and economic well-being of the residents. The article aims to identify which typical revitalization project solutions, only referring to physical environmental improvement projects, improve the social and economic well-being of the residents. To achieve this goal, a statistical analysis of the Zirmunai triangle residents was performed with obtained survey data. The hypothesized connections between typical revitalization solutions and changes in the social and economic well-being of the population were verified using Pearson's Chi-Square test. The results showed that the public spaces, sports, and playgrounds provided by revitalization were directly related to the social and economic well-being of the residents. As a result of this typical revitalization solution, 17% of the residents experienced an improvement in their economic well-being, 17% of the residents got to know their neighbors, and 95% of the residents indicated that they enjoy living in the neighborhood.