Opportunities to ensure sustainable economic development of the coastal territories of the Baltic Sea Russian region in the context of digital transformation

Abstract

This article examines the development opportunities of the Baltic Sea region which consist in the possibility to effectively use the potential of blue economy industries through digital transformation and innovation. The purpose of the article is to prove that effective use of the Baltic region resource potential is a priority factor for stable economic development of the coastal territories in this region through innovations and digital technologies. The article presents effective tools and mechanisms to develop digital economy of the Baltic territories organizations, discusses the advantages and disadvantages of digitalization. Based on prior research on sustainable development of the Baltic region, the paper shows that to prevent the negative impact of uneven development on sustainable development goals in the region is possible through more active use of the unique resources of the coastal territories of the region, the rise of industries and sectors of blue economy on a new technological basis. Investing in digitalization of these industries and development of information and communication infrastructure of the Baltic Sea coastal territories is the key to their competitiveness.