Q: What does the status "Reject - resubmission allowed" indicate?

Detailed Question -

It is first time for me to see the status “Reject - Resubmission Allowed”. The editor says:

“Please review the comments below for a more detailed understanding of the manuscript's disposition. If the authors can address the issues raised in the review, we will be willing to review the revision. Please note that at least one of the reviewers from this review will be invited to review your resubmission. Therefore, it is strongly suggested that the authors address the major concerns mentioned below. We look forward to receiving your revised manuscript.”
 

Does this comment mean that there is a possibility for my paper to be accepted if I correct it as per the comments? Or should I submit my paper to another journal?

1 Answer to this question
Answer:

From the editor’s comments, it seems that the journal is interested in your paper, provided you can satisfactorily address the concerns raised by the reviewers.

The first thing you should do is go through the reviewer comments carefully. If the reviewers’ concerns are such that you think you will be able to address, you should go ahead and revise your paper and resubmit it to the same journal. The paper would stand a fair chance of getting accepted if you are able to make the changes satisfactorily. Additionally, the editor has mentioned that the resubmitted paper will be sent to at least one of the same reviewers, so there is also a chance that the review process will be quicker.

However, if you feel that you will not be able to address several of the issues raised in the review, it is better to consider submitting to another journal.