Europe must take action to revive its competitiveness
Press release, January 31, 2024 Turbulent times have highlighted new fragilities in Europe’s economies. Addressing them could be the catalyst for a new wave of competitiveness and growth, according to McKinsey's new report "Accelerating Europe: Competitiveness for a new era". Europe is one of the world’s leading regions in terms of sustainability and inclusion, but its per capita income remains 27 percent lower than in the United States. Closing that prosperity gap depends on accelerating growth by becoming more globally competitive. "If Europe fails to improve its