Competitiveness of an economy - Several Factors
There are several factors that can impact the competitiveness of an economy: Human capital: A well-educated and skilled workforce can contribute to a country's competitiveness by increasing productivity and innovation. Infrastructure: A modern, efficient infrastructure, including transportation, communication, and energy systems, can help businesses operate more efficiently and increase productivity. Technology: A country's ability to develop and adopt new technologies can be a key factor in its competitiveness. Natural resources: A country's endowment of natural resources, such as oil, minerals, and fertile land, can be a source of competitiveness. Political stability and government policies: Political stability and favourable government policies, such as low taxes and minimal regulation, can create a favourable environment for businesses and contribute to a country's competitiveness. Access to markets: A country's access to global markets can be an important fa...