Impacts of global trends on the European Union competitiveness

Peredy, Zoltán and Vigh, László and Lorenzoni, Paola and Ghisaura, Riccardo (2024) Impacts of global trends on the European Union competitiveness. ACTA PERIODICA (EDUTUS), 31. pp. 4-28. ISSN 2063-501X

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Abstract

The mighty forces driving global transformation started in the early nineties of the last century are changing the world face more and more quickly and deep. The world becomes increasingly complex, a source of more challenges and less safe. In the context of the current global scenario, characterized by intense interconnectedness and rapid changes, Europe faces a series of challenges and opportunities arising from key global trends: aging population, social changes, digital transformation, climate changes and health crisis and pandemic. These factors, along with others, play a fundamental role in shaping the continent’s competitiveness in the international economic landscape. The aging population imposes new pressures on pension and healthcare systems, while social changes, such as growing environmental awareness and diversification of consumer preferences, are redefining market dynamics. At the same time, digital transformation is revolutionizing industries, business models, and interpersonal relationships, opening up new opportunities for innovation and economic growth. In this context, this review paper aims to explore in detail the complex impacts of these emerging global trends on competitiveness in Europe reshaping our future and at the same time try to find solutions to handle of these ones.

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