WEF report suggests ways to rebuild Europe's competitiveness

More reforms are needed to rebuild the competitiveness of Europe, especially in the areas of innovation and entrepreneurship, mobilizing talent and improving market efficiency, said a report released by the World Economic Forum (WEF) Thursday.

The report "Rebuilding Europe's Competitiveness," released during the forum's annual meeting, said Europe's competitiveness deficit and the divide is the root cause of stagnating or declining growth and rising unemployment or fiscal instability in the region.
The report identified five success factors that leaders should prioritize when implementing and scaling up reforms, including strong collaboration across stakeholders, policy consistency, sustained political leadership, sense of urgency and a strong and clear communication plan.
Should the recent efforts to boost competitiveness continue, Europe's competitiveness can be restored, with the region's core values of partnership and social inclusion preserved, it concluded.