European competitiveness: regaining the edge and delivering for citizens

In this conversation off the back of the 2024 World Economic Forum in Davos, Friends of Europe’s Dharmendra Kanani and Sven Smit, Chair of the McKinsey Global Institute (MGI) and Senior Partner at McKinsey & Company, delved into the state of Europe’s competitiveness and Europe’s ability to sustain its economic prowess while ensuring tangible benefits for citizens. This conversation was based on MGI’s newly published report, ‘Accelerating Europe: competitiveness for a new era.’

As global dynamics evolve, Europe must continue to strategically position itself to compete effectively in international markets. Simultaneously, it is crucial to prioritise policies that directly impact citizens, promoting economic inclusivity, job creation and social well-being. Sustainable practices, a skilled workforce, and forward-thinking governance are pivotal components in maintaining Europe’s competitive edge. This holistic approach recognises that competitiveness extends beyond economic metrics; it is about securing a prosperous and harmonious future for the diverse population of the continent. By navigating this delicate balance, Europe can not only safeguard its competitive position but also deliver meaningful outcomes that positively impact the lives of its citizens.

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PHOTO CREDIT: : McKinsey – Sven Smit