The Economic Impact of Parks on Local Communities

Product Information

Parks provide advantages to both locals and tourists. In addition to their many ecological benefits, which include preserving plant and animal habitats, reducing air pollution, and enhancing water filtration, parks also provide income for the public and private sectors. Buyers prefer homes close to parks, greenery, and open spaces. A property’s value gets raised by being close to a park, which raises property tax revenue. Businesses frequently choose to locate areas with parks and other amenities to attract and retain top talent and it is exploring the financial benefits of urban parks.

Health and Wellness

The areas, events, and programs that local parks and recreation organisations provide define the neighbourhood’s well-being. They also improve health outcomes for individuals and communities, quality of life, and health equity. Professionals with experience in parks and recreation are in a position to develop upstream solutions that spark and transform park and recreation organisations into comprehensive, neighbourhood-focused Community Wellness Hubs.

Area Parks draw businesses

Companies locate where they can find the best employees, so if residents prefer to live close to parks and other open areas, then businesses will also want to be there. 75% of corporate executives believe that quality-of-life features like parks and open space are necessary when choosing a location for their business, according to a recent survey published in Area Development magazine.

Engaging the community

Engaging the community means cooperating with people and organisations to accomplish objectives. Mayors and other public officials can directly involve their constituents in the ongoing planning, design, and management of parks and open spaces using community engagement. Residents who examine this process become more knowledgeable, involved, and connected to parks drive tourism and revenue in communities. Even though it can be controversial, community involvement is typically beneficial and productive.

neighbourhood park

Public Spending Cuts.

Local governments may save money on public services like sewers, trash, water, and roads by preserving open space and parks instead of approving dense development. One must weigh the pros and cons of permitting development versus keeping undeveloped land as open space.

The Local Parks’ Economic Impact

The tireless efforts of park and recreation specialists directly benefit millions of people by organising enjoyable family activities, maintaining hygienic and secure outdoor areas for physical activity, and offering community resources where locals can obtain a wholesome meal. It acknowledges that parks and green spaces as engines of local economic development enhance communities’ equity, well-being, and capacity for conservation. In addition, the local economy benefits from the diligent labour of neighbourhood park and recreation organisations’ staff.