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References Agg, Z.; Nemes Nagy, J. (2002). A politika térségi és helyi szintjei [The regional and local levels of politics]. In: Bernek Á. (ed.), A globális világ politikai földrajza [Political geography of the global world]. Budapest: Nemzeti Tankönyvkiadó, 385–430. Bajmóczy, Z. (2011). Bevezetés a helyi gazdaságfejlesztésbe [Introduction to local economic development]. Szeged: JATEPress. Bogárdi, T.; Molnár, M. (2014). The barriers to economic development through the example of a Hungarian internal periphery. Vestnik Apk Stavropolya/Agricultural Bulletin

Introduction As pointed out by Saarinen et al. (2017) , a critical theme within the emerging scholarship around the geographies of tourism development and planning is that of tourism and local economic development (LED) planning. Over the past 40 years, as a byproduct in part of the advance of globalization, LED planning has expanded in significance on a worldwide basis to become a vital planning approach for local economies (Pike et al. 2016; Rodriguez-Pose & Wilkie 2015 ). In the developing world, the activity of local economic development constitutes an

References Barca, F., McCann, P. and Rodríguez-Pose, A. (2012). The Case for Regional Development Intervention: Place based versus neutral approaches. Journal of Regional Science , 52, 134–152. DOI: https://doi.org/10.1111/j.1467-9787.2011.00756.x . Bateman, M. ( 2012). Local Economic Development in Latin America: A Study of the Role of the UNDP-Supported LEDAs in Promoting Sustainable Local Economic and Social Development. Rome: International Links and Services for Local Economic Development. Bateman M. (2014). The Zombie-like Persistence of failed Local

1 Introduction Over recent years Tomaney (2010: 10) records there has occurred “a growth in new thinking about the process of local economic development”. Globally, a rethinking of approaches to local economic development has been occurring on the part of international development agencies as well as by national, regional and local governments ( Pike et al., 2014 ; Pugalis and Bentley, 2014 ; Pike et al., 2015 ). The new approach marks a turn away from previous policies seeking the attraction of external ‘footloose investors’ or the provision of major

Academic references [1] Bajmócy, Z. (2011). Bevezetés a helyi gazdaságfejlesztésbe. Szeged: JATEPress. [2] Bálint, L. (2012). Internal migration. In: Őri, P. & Spéder, Zs., eds., Demographic portrait of Hungary 2012 (pp. 123–134). Budapest: Demographic Research Institute HCSO. [3] Bingham, R. D. & Mier, R., eds. (1993). Theories of local economic development. Newbury Park: Sage. [4] Carson, D. B. & Koch, A. (2013). Dividing the local: mobility, scale and fragmented development. Local Economy 28(3), 304–319. DOI: 10.1177/0269094212474869. [5] Clarke, S. E

References Abrahams, D., 2003: Local Economic Development in South Africa: A Useful Tool for Sustainable Development. In: Urban Forum, Vol. 14 (2/3), pp. 185-200. Akudugu, J.A., 2013: Organising and Implementing Local Economic Development Initiatives at the District Level in Ghana, unpublished PhD dissertation Rheinischen Friedrich-Wilhelms Universitat, Bonn. Akudugu, J.A. and Laube, W., 2013: Implementing Local Economic Development in Ghana: Multiple Actors and Rationalities, Bonn: ZEF Working Paper Series, No. 113. Archary, L., 2011: Comprehensive Rural

Economic Development in Alicedale. In: Urban Forum, Vol. 18, pp. 69-84. Goodwin, H., 2008: Tourism, Local Economic Development, and Poverty Reduction. In: Applied Research in Economic Development, Vol. 5 (3), pp. 55-64. Hall, C.M. editor, 2007: Pro-Poor Tourism: Who Benefits?, Clevedon, Cromwell Press. Hall, C.M., 2013: Framing Tourism Geography: Notes From the Underground. In: Annals of Tourism Research, Vol. 43, pp. 601-623. Hall, C.M., 2014: Introduction: Tourism Policies, Planning and Governance. In: Lew, A.A., Hall, C.M. and Williams, A.M. editors, The Wiley

Kenton-on-Sea). These types of towns are the threshold as they have a good level of pre-existing infrastructure and a decent number of existing CCIs on which they can expand. This means that for them, CCI-led development is more likely to be a viable option for local economic development. The high-CCI municipalities exceed the threshold and so are even more likely to be able to foster CCI-led development. These classifications of municipalities based on their numbers of CCIs show that there is a diversity that exists in rural areas with small towns. The overarching and

Abstract

In a dynamic market, the city has become a main source of competitiveness, along with financial and economic benefits. Due to the processes of digitalization, a new concept has been developed, namely smart cities. This concept delivers economic and financial potential, not only to cities, but also to urban and local economic development. Therefore, to ensure the establishment of this concept, local government units, i.e., cities, need to have enough financial resources. In addition, the fiscal capacity of their local budgets should be sufficient. The objective of this paper is to evaluate the fiscal capacity of large cities in Croatia over the 2016-2018 period, as well as to present the financial support through funding schemes for the establishment of smart cities. After calculating the level of fiscal capacity of large cities, the analysis revealed interesting results. Only four large cities (Split, Rijeka, Zadar and Pula) achieved positive fiscal capacity in the observed period. This provides evidence of fiscal performance and fiscal capacity for the establishment of smart cities. This concept will enhance the quality of life, stimulate economic growth, sustain local government budgets and create new value for both investors and the local population.

References Bennett , R. J. 2000. Regional and local economic development policy: The role of administration and political entrepreneurs. In: Horváth, Gy. (ed.): Regions and Cities in the Global World. Pécs, Centre of Regional Studies, HAS. pp. 58-81. Blakely , E. J. - Bradshaw , T. K. 2002. Planning Local Economic Development. Theory and Practice. London : Sage Publications Ltd. Bucek, J. 2005. The Role of Local Government in Local Economic Development. Slovakia. In Spkova, S. (ed.): Local Government and Economic Development. Budapest, Open Society Institute. pp