Europe Risks Losing €1 Trillion by 2030 If It Doesn't Boost Competitiveness in Innovation, Energy, Trade

Europe trails the US in economic output and needs to accelerate growth by becoming more globally competitive in areas like energy, technology, supply chains, and more. Up to €1 trillion of value added could be at stake by 2030.

A new "geo-economic era" is disrupting Europe's model, creating fragilities in innovation, energy imports, access to capital, global trade flows, labor transitions, corporate scale, and approaches to regulation.

To thrive, Europe needs sharply higher goals across 7 priority areas doubling innovation spending; halving energy costs; adding $400B in corporate investment; securing critical material access; accelerating reskilling and labor mobility; increasing firm scale; and rethinking rules.

This will involve difficult tradeoffs and partnerships between policymakers and business leaders on funding, regulation, administration, and more to balance competitiveness with Europe's sustainability and inclusion.

Corporations must look beyond immediate interests and sector boundaries to tackle systemic barriers, invest strategically, and collaborate with each other and government on long-term competitiveness.