Economics of Development

Digital transformation of port activities in the context of investment-driven development of water transport

The global maritime sector shifted from traditional port modernisation to systemic digital integration, which required new economic frameworks to justify smart technology investments while ensuring financial security. The purpose of the study was to substantiate the methodological foundations of the digital transformation of port activities in the context of investment-driven development of water transport. The research employed a comprehensive methodological approach, including system analysis, comparative and structural analysis, and economic-statistical modelling to assess investment efficiency through cash flow indicators, profitability, and risk evaluation. The findings demonstrated that digitalisation functioned as a multidimensional economic driver, reducing administrative and documentation costs by 20-30%, vessel turnaround time by up to 25%, and cargo dwell time by approximately 40%. The study proposed an enhanced investment appraisal methodology integrating Real Options Valuation to account for strategic flexibility and introduced a digital premium that adjusted the discount rate based on increased operational transparency. A key innovation was the incorporation of a technological lag coefficient into payback period calculations, aligning capital recovery with the shorter cycle of digital obsolescence. The results indicated that digital investments generated non-linear returns through increasing returns to scale as more stakeholders joined the ecosystem, enabling shorter payback periods and self-financing cycles. Furthermore, the study conceptualised a mechanism for integrating digitalisation effects into the port’s financial security architecture, proving that technological transparency and operational velocity serve as critical reserves for institutional resilience. The classification of digital risks into technological, financial, and cyber clusters allowed for a risk-oriented evaluation where investment projects were filtered through a security threshold to prevent systemic fragility. The practical value of the work lay in the developed tools for the economic justification of smart port projects, which enabled port operators and investors to accurately model incremental effects, optimise capital structure, and strengthen the financial security of water transport infrastructure in a digitalised global environment

transport and logistics systems; port infrastructure development; investment efficiency; operational costs; cash flow management; risk assessment; financial and economic security