Determining impact of digitalization on the potential-forming space of regions in the context of sustainable development

Abstract

The economic essence of digitalization of economic systems is investigated in the article. The challenges of digitalization of the economy of the regions include: the need for consistency of the dynamics of digitalization with economic and legal principles and institutional transformations; digital infrastructure development; intellectualization and digital literacy of the population; access to information and communication innovations. Guidelines for digitalization of the economy of the regions allow to ensure the following results: acceleration of economic business processes and innovative development; increasing the openness and accessibility of knowledge, information, communications; reduction of time and cost in production processes, sales and product promotion; formation of information databases for managing large data sets and accelerating the exchange of information; transformation of economic relations and adaptability to the demands of society. The implementation of the described goals and projects of digitalization of the regions requires the activation of economic potential, as well as the transformation of the institutional environment of the region. Economic factors and tendencies of digital activity of the population of the region are described. Promising areas have been identified to further stimulate the implementation of programs and projects to digitize regions and increase their investment attractiveness to attract financial support.