Innovation is a key driver of economic competitiveness in the global economy. Countries that invest in research, technology, and education are better positioned to improve productivity and create high-value industries. Innovation supports the development of new products, services, and business models, helping economies adapt to global competition. Organizations such as the World Intellectual Property Organization emphasize the importance of innovation in achieving sustainable economic growth.
However, not all countries have equal access to innovation resources. Gaps in funding, infrastructure, and skilled labor can limit innovation in developing economies. In addition, rapid technological change can increase competition and pressure on traditional industries. To remain competitive, countries must support innovation-friendly policies, encourage collaboration between public and private sectors, and invest in human capital. Shutdown123