| Abstract |
The challenges and opportunities related to the financial sustainability of local governments in the future are immense. The chapter emphasizes the evolving landscape of fiscal pressures and the need for proactive strategies to ensure the long-term financial health of local governments. The chapter highlights the importance of embracing innovation, building resilience, and fostering collaborative approaches to address future financial challenges and sustain the delivery of essential services to communities. The financial sustainability of local governments is expected to face various challenges in the future. Demographic shifts, urbanization, climate change, technological advancements, and economic uncertainties will significantly impact the fiscal landscape of local governments. These factors will exert pressure on revenue sources, increase service demands, and require investments in infrastructure, sustainability, and resilience. To navigate these challenges, local governments must embrace innovation in their financial practices. This includes exploring innovative financing mechanisms, such as social impact bonds, green bonds, and crowdfunding, to diversify revenue streams and attract investment for sustainable initiatives. Leveraging technology, such as digital platforms, data analytics, and smart city solutions, can enhance revenue generation, improve efficiency, and optimize resource allocation. © 2025 selection and editorial matter, Nirmala Dorasamy and Tonderai Kapesa. |
