INNOVATIVE AND INVESTMENT DEVELOPMENT OF RESORT CITIES AND DESTINATIONS: SUSTAINABLE DEVELOPMENT MODELLING

The article examines the specifics of innovative development in resort cities and destinations in the context of transformational processes in the global economy and the development of a platform economy. It considers current trends in the innovative evolution of the sector, including digitalization and the implementation of advanced technologies to enhance the quality of recreational and tourist services. Taking into account the concepts of J. Schumpeter, G. Mensch, A. Kleinknest, and other researchers, the study analyzes the impact of innovations on economic cycles, structural changes, and the competitiveness of resort and recreational cities and regions. Special attention is paid to the role of innovation waves that form new business models and alter the economic landscape of the industry.A mathematical model for selecting the optimal innovation policy is proposed, which is based on the analysis of the effectiveness of investments in state-of-the-art recreational technologies. A generalized logistic equation is employed to model the dynamics of technological changes, enabling the forecasting of the effectiveness of innovation implementation and its impact on the sustainable development of regions. The criteria for assessing innovation processes are defined, namely, their economic feasibility, environmental safety, and social significance. The necessity of integrating platform solutions to enhance the adaptability of the resort and recreational economy is demonstrated.The study also explores the possibilities of applying digital ecosystems and algorithmic management for coordinating innovative activities and optimizing resource allocation. The regularities governing the interaction between innovation waves and economic processes – which ensure the long-term stability of the development of resort cities and destinations – are identified. The proposed innovation management model allows for evaluating the effectiveness of various development strategies, contributes to the formation of competitive business models, and ensures sustainable growth in the resort and recreational sector.