FINANCIAL SUPPORT AND DEVELOPMENT OF DIGITAL RURAL HUBS IN EUROPE

Abstract

Digitalization is becoming increasingly important in today's rural society as a vital driver in maintaining European rural areas competitive globally. Thereby, the research problem lays upon the potential of providing flexible support to overcome the digital divide in order to improve the business environment in rural areas. The paper aims to provide scientific review of two major research approaches: 1) digitalization impact on rural businesses development; 2) ICT role in life quality improvement and rural communities' development. The practical issue concerns the potential of providing flexible support to overcome the digital divide in order to improve the business environment and communities' infrastructure in rural areas. The research is performed through review of scientific articles from the last ten years, evaluating the trends of rural hubs development in Europe, including deeper understanding of digitalization, innovative development and communication financial support. The results section represents findings to determine innovative financial support models, considering European funds and regional financial initiatives potential, to strengthen digitalization in rural areas. Synergetic effect within all-European and local financial support and rural development strategies will boost hubs development, overcoming the digital divide in rural area. [ABSTRACT FROM AUTHOR] Copyright of Management Theory & Studies for Rural Business & Infrastructure Development is the property of Vytautas Magnus University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) TS - RIS