What is UNCTAD

The chapter highlights how important it is for modern cities to invest in the field of creative economy, which has dominated the international scene in recent decades. Promoting innovation, with emphasis on competitiveness and cultural diversity, creative economy's sectors are developing dynamically. The chapter aims to define the concept of the city, to present cities' categorization nationally (in Greece), as well as in European and global level. It highlights the relationship between culture and development, creative cities' characteristics, as well as examining the creative sectors, with emphasis to the challenges that cities face in their effort to benefit from the creative economy. For the empirical analysis of the theoretical part, indicative case studies of cities, such as Nantes and Medellin, models of urban revival at European and world level, are used. The challenges faced by these cities and the policies they have implemented, aimed at development, are presented.