Contemporary trends and future scenarios for the Greater St. Petersburg region: Some policy recommendations
Authored by Nikita Lisitsyn
City of St. Petersburg and the Leningrad region are the regions of the Russian Federation and constituent parts of the so-called Greater St. Petersburg agglomeration, which includes the second largest city in Russia and a large territory surrounding the City with its villages and satellite towns. These two regions developed fast until 2012, but since 2013, they entered a period of a low economic development. Despite its previous achievements in attracting foreign direct investment (FDI), St. Petersburg has been losing attractiveness in the eyes of foreign investors since 2013. The Leningrad region performed better in 2013-2020, but lost some of its key investors.
The year 2020 brought a further worsening of economic performance due to the COVID-19 pandemic. However, some positive changes in the regional economies can be observed in 2013-2020. Even in the year 2020, there were certain achievements in hampering the pandemic. The future socio-economic development of both the regions under review is quite uncertain today. Therefore, the author attempts to look forward through this uncertainty with the help of three future scenarios.
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