What is Redevelopment of Industrial Sites

In this chapter, the authors analyze theoretical approaches to definition and classification of creative clusters, including used by the international economic organizations. The role and influence of creative economy for modern development of the urbanized cities is shown. In the chapter, the production factor which is the basis for the creation of added value in a creative economy is designated. The authors show the influences of the creative industries on the development of the world economy by using relevant analytical materials and statistical data. Such mechanisms of change of the urbanized cities' public spaces as placemaking and redevelopment are described. The comparative analysis of a creative economy's key indicators of the world capitals – leaders in development of the creative environment in dynamics is carried out. The analysis is based on the data of the Global Creativity Index and the interrelation of creativity level with urban saturation and competitiveness of the countries and cities.