The ‘economic rural’ – supporting recovery and regeneration

This chapter examines the economic rural and the role of planning in supporting and enabling the development or transformation of the rural economy. Central to the analysis is the way that other forms of capital (built, land-based, social-cultural) can be ‘converted’ to economic capital through the revalorisation of the rural resource base. These are fixed or less than mobile assets that are unique to a specific rural place and includes tangible (e.g. built heritage) and intangible (e.g. cultural practices, traditions, networks) assets. The chapter ‘unpacks’ the economic rural into three subcomponents that underpin rural prosperity: i) physical productive infrastructure as material assets for direct conversion to money; ii) enterprise infrastructure, which captures entrepreneurial culture, existing businesses and business links; and iii) community wealth building capacity. The chapter also considers how key societal challenges or mega-trends may potentially disrupt current economic trajectories. These themes are explored in relation to three case studies. First, an example of a smart rural economy in Ireland is examined, followed by the challenge of managing rural tourism in an area with a sensitive environmental and social context in Scotland. Finally, restructuring a local rural economy in relation to food security concerns and agricultural transitions in Wales is examined. The chapter concludes by drawing out lessons for future rural planning practice.