In the 2023 Basque Country Competitiveness Report we seek to understand the relationship between the sustainable transition and competitiveness for well-being and how both concepts can be made compatible and reinforce each other.
To this end, we analyse the current results of competitiveness and well-being in the Basque Country, as a starting point for advancing in the environmentally sustainable transition in the coming years, and we explore the six dynamic levers (natural capital, knowledge, human capital, physical capital, financing, and social and institutional capital) on which we can act to achieve better results. Finally, we propose six general recommendations to guide decision-making.
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1. The starting point: economic-business and wellbeing performance
Analysis of the Basque Country's economic and business performance shows a generally positive situation with GDP per capita growth and productivity levels above the European average. However, rising energy prices have contributed to a worsening of the trade balance and SME innovation remains an area for attention.
In terms of well-being outcomes, there is good progress in several dimensions of social life, employment, learning and health, but the report warns of rising inequality and energy poverty, and insufficient progress in the environmental dimension.
You can consult various indicators presented in the report at the Regional Competitiveness Observatory.
2. What levers can we act on to advance in the sustainable transition?
The core of the Basque Country Competitiveness Report 2023 is the analysis of six dynamic levers (the right-hand side of our competitiveness framework) on which the agents of the territory can act to promote structural changes that contribute to achieving an economy and society with a low environmental footprint and that generate better results both in economic and business terms and in terms of well-being.
3. Six recommendations to boost competitiveness around sustainability
The report proposes six general recommendations to boost, coordinate and align the drivers of territorial and business competitiveness around environmental sustainability:
- Design a smart transition, with a clear, shared and long-term strategic vision that proposes ambitious roadmaps that are at the same time coherent with the economic and social reality of the territory.
- Execute R&D and innovation policies oriented towards results that imply greater environmental sustainability.
- Strengthen key cross-cutting areas such as innovation ecosystems, capacities and financing, and strengthen the role of intermediary organisations such as development agencies and clusters to support SMEs in the process.
- Promoting the central role of Basque citizens in the sustainable transition process through training and awareness-raising to contribute to social acceptance of its implications.
- To continue innovating in collaboration and collaborative governance schemes, making the most of the knowledge and experience accumulated over the last few decades.
- To consolidate a leading role for the Basque Country and its companies in the global sustainable transition by participating in international initiatives in the fields of energy, technological innovation, sustainable industry and implementation of the SDGs.
Competitiveness Conference
2023
Couldn't make it to the Competitiveness Conference? You can watch the highlights of the event on the following link.
