Abstract
In the last decade, planning for economic development has increased in importance for local communities worldwide. Economic development has become a government-sanctioned process of either providing resources and expertise to dedicated zones that either is regional trade hubs or zones which are utilized in the uplifting of local communities that were erstwhile suffering from poverty and unemployment. The dissertation further expands on Local Economic Development (LED), the challenges associated with LED, and hence discusses the strategies of LED. The promotion of urban tourism in Johannesburg has been identified as a key twenty-first-century strategy that can champion economic growth, community development, and poverty relief in the developmental city. This dissertation focuses on the possibility of creative spaces such as Maboneng coexisting with the prevalent trend of urban renewal, within the precinct and surrounding ones. Creative industries contribute significantly to education, entertainment, and urban tourism. The unique fabric of Johannesburg creative spaces has an edge over other Gauteng cities in promoting LED, yet they can be at risk of being gentrified if neglected in the long run. However, the opportunities that come with new spatial development are deep-seated in development economics theory. The dissertation attempts to unpack the impact and significance of new spatial developments sprouting in the vibrant local economies of inner-city Johannesburg, with the example of Jewel City in Maboneng Precinct.
Keywords: Local Economic Development (LED), Creative Spaces, Urban Regeneration, Place Making, Social Cohesion.