Competitiveness Insights

 
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In today’s turbulent and uncertain environments many countries seek new growth drivers based on sustainable sources of competitive advantage. Economic fundamentals can be changed only through a well-designed, realistic and shared vision and strategy. The vision and strategy have to be pragmatic and feasible, yet ambitious. Without ambition, nations will not win the competitiveness battle.   Given current trends, this calls for a real strategic breakthrough, which leaves the decision makers with two fundamental questions:  

1. What should be the role of their country in the regional and global economy?

2. What are the tools to achieve it?  

Sound macroeconomic policies and stable infrastructure are necessary but not sufficient conditions to ensure economic development. The quality of business environment and companies' strategic and operational sophistication are fundamental to competitiveness.

Competitiveness and Growth

Competitiveness, which we define as high and rising levels of productivity, is determined more by created factors than its resource endowments. It is about the ability of the nation, its firms and citizens to design and implement strategies and operations which allow efficient utilization of available resources and factors.

Foreign Investment and Diaspora

Foreign investments are vital contributors to the overall economic performance of any country, with major impacts being - introduction of new technologies, managerial competences and knowledge, enhancement of the business climate, improvement of the domestic competition, creation of jobs, etc.

Education

Education is becoming an increasingly important competitive force for many countries in global competition. Emerging economies are striving to design and create a competitive education system. Education must be made a priority in order for Global competitiveness to be based on knowledge and skill- intensive characteristics and its regional value proposition focusing on unique human capital.

Technology and Innovation

 
IT industry has experienced rapid growth throughout the last decade and is one of the most dynamic sectors globally. The industry sets the pace of change for almost all other industries. It disrupts value chains, business models and established standards. Cost-driven outsourcing is no more a generic panacea. Innovation and constant change is the only survival guide.