ECONOMIC CONSEQUENCES OF MASS URBANIZATION IN DEVELOPING COUNTRIES

Mass urbanization in developing countries has a complex impact on economic development, transforming the labor market, employment structure, investment flows and the level of social inequality. Rapid urban growth creates new economic opportunities, stimulating the development of industry, services and entrepreneurship, but at the same time exacerbates the problems of infrastructure congestion, housing shortages and environmental degradation. A significant proportion of migrants from rural areas face difficulties in integrating into the urban economy, which leads to the expansion of the shadow sector and increased social marginalization. The article examines the key economic consequences of urbanization, including changes in the structure of the real estate market, unemployment problems, rising cost of living and the need for government regulation to minimize negative effects. Successful practices of urbanization management are analyzed, and recommendations for sustainable urban development in the context of rapid population growth are offered.