18th June 2015

Knowledge Economy

What really sets a city apart? Does it offer fantastic shopping, nightlife and dining opportunities? Most world-class cities do. Does it boast unique local culture? Every country could arguably claim that. Is it a seaside destination? So is every city with a coastline. What is it that draws people to meet, invest, work and live in certain cities around the world? It is the destinations that embrace a Knowledge Economy that are enticing the world’s most innovative and influential thinkers.

“To embrace a Knowledge Economy is to foster the academic institutions and nurture the centres engaging in ground-breaking research, knowing these will provide skilled citizens and build knowledge centres for the future.”

A destination’s wealth in knowledge and human capital is the new magnet for growth and prosperity. To embrace a Knowledge Economy is to foster the academic institutions and nurture the centres engaging in ground-breaking research, knowing these will provide skilled citizens and build knowledge centres for the future. It involves building the relationships between government, local business and internal and inward investors and aligning their aspirations and needs in terms of strategic direction and growth. The result is mutual benefit — future employment, career opportunities, international recognition. Conference organisers visit to learn the latest developments, bringing their own experts and expanding even further on the local knowledge base. New research, innovative projects and life-improving products are brought to fruition. Success drives further investment.

We live in exciting times. Advances in technology and science are transforming the jobs we do and radically changing the world’s social and economic landscape. A transition to a Knowledge Economy will be driven by innovation sectors including life sciences, pharma, sustainable living and energy, the world of high-tech, clean-tech, logistics and financial services. Intellectual Capitals looks at some of the key developments arising in these sectors and how they will not only transform everyday lives, but build upon, enhance and perpetuate the Knowledge Economy of the city they originate from.

A look at our Knowledge Hubs section shows how the realisation of a Knowledge Economy manifests itself in both tangible and intangible assets. In New South Wales, Australia, the Sydney Knowledge Economy centres on financial services. Its new $A6 billion harbour-front development of Barangaroo will create a new-generation financial district that will be carbon-neutral, zero-waste and merge commercial, residential, academic, event, entertainment, retail, civic and cultural spaces, while employing 23,000 people.
The Dubai Knowledge Economy has already recognised and built its key areas of development: Dubai Internet City, Dubai Healthcare City, Dubai Media City and Dubai Knowledge Village. These ecosystems provide a pro-business environment and the facilities to help businesses, from global firms to start-ups, develop, innovate and grow.

Join us as we discover where these knowledge hubs reside and reveal which cities are truly making the most of their intellectual capital.

The power of Intellectual Capitals as a spur for business events is driven home in a new promotional video featuring powerful testimony from leading politicians and meetings industry figures.

The 12-minute film shows how destinations are harnessing their specific areas of expertise –knowledge hubs – to drive inward investment, and how meetings help them reach their goals.