Governance and economics of smart cities: opportunities and challenges

This editorial introduction to this special issue provides an overview and a conceptual framework of governance and economics of smart cities. We begin with a discussion of the background to smart cities and then it focuses on the key challenges for consideration in smart city economics. Here it is argued that there are four dimensions to smart city economics: the first is regarding the scale of global market for smart cities; the second issue concerns data to be used for smart city projects; the third concerns market competition and structure and the fourth concerns the impact on local economy. Likewise, smart city governance framework has to be considered a layered and multi-level concept focusing on issues of transparency and accountability to the citizens.