There are many approaches to identifying, analyzing and enhancing competitiveness, which is a complex characteristic of regions, countries, industries, enterprises, and commodities. With prospects of Ukraine’s European integration, we consider the EU as a key benchmark for enhancing its global competitiveness.
The EU, as a union of democratic European countries working together for peace and prosperity, must, in the face of increased global competition maintain a high competitiveness of both the Union as a whole and its member states. It has been shown that the EU countries (primarily the Netherlands, Sweden and Denmark) occupy leading positions in the international competitiveness rankings (Global Competitiveness Indexes of the WEF and IMD, Legatum Prosperity Index, SDG Sustainable Development Index), indicating their high level of development. However, in many key areas, some EU countries are lagging behind the world leaders.
An open and export-oriented European economy today suffers from weak demand for investment goods and durable consumer goods, and uncertainty of the UK exit. At the same time, the EU is a global leader in sustainable development.
Strengthening of the single market and support of new technologies was recommended, as well as the enhancement of productivity by all European countries, which requires greater investment in critical infrastructure, innovative technologies, development of skills and labor market efficiency. European companies should take into account global market conditions and dynamics, and modernize their competitive policy accordingly.
Adoption of the best European experience in raising competitiveness by Ukraine, taking into account the caveats and recommendations of the experts, may be a topic of further scientific research.
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