By Mauro Macchi
European countries have long lagged behind other developed economies in productivity and innovation, even prior to the impact of the Eurozone crisis. Below, Mauro Macchi argues that embracing disruptive digital technologies is key to Europe’s ability to both recover and compete, and whilst policymakers can help nurture the right environment for digital growth, the real power lies in the hands of businesses themselves.
While many parts of Europe’s economy continue to experience a weak recovery, there is more confidence among business leaders that the intense period of crisis has passed. Nevertheless, the downturn and the debt crisis have hindered the EU’s efforts to improve its competitiveness, and while Europe has been repairing its economy, the rest of the world has been investing in infrastructure, technology and skills. The digital technologies disrupting many industrial sectors in Europe can help it recapture its lost competitiveness and drive growth. However, do Europe’s businesses recognise the opportunity, do they know how to seize it, and is the environment in place to support them?