The Ingredients of Economic Growth
Achieve prosperity and stability
The advanced economy focuses on moral, environmental, and social growth, as it preserves the development and development of all aspects of an individual's life. A successful economy is not only limited to production and consumption but seeks to provide a healthy behavioral culture for citizens. In addition, it focuses on increasing the well-being of citizens away. Sustainable, maintaining the state's economic stability.
A successful economy and economic growth are achieved by striving to encourage entrepreneurship and innovation and to encourage emerging companies and creative individuals to invest and open economic projects in the country.
It is also achieved by setting up a strategic plan to prevent the migration of skilled workers, highly qualified people, and higher education degrees abroad, And encourage attracting capital owners to invest in the country.
Positive social values and government policies
Social and cultural values that encourage the pursuit of progress and development play an important role in achieving progress and economic success. As stated in a study by the University of Houston, societies that value and encourage personal gains, achievements, and wealth-building achieve a higher level of economic development and success faster than societies that do not It encourages personal and group achievements.
Among the factors that encourage individuals to achieve: the existence of work ethics, and the provision of a place with good infrastructure for investment and the establishment of economic projects, so government policies must provide a good work environment for companies, and encourage the establishment of projects, and provide adequate funding for Equipping a good and suitable infrastructure for work.
The happiness of the workers
Happiness is one of the factors that help to achieve successful economic development. The Illinois Business Law Journal stated that the existence of the happiness factor leads to increased production. Therefore, successful and productive companies that contribute to the advancement of the economy rely on productive workers who feel happy in their work, not for reasons. Material but to develop their personal relationships and skills there.
The economic fundamentals
The economic fundamentals are a set of characteristics and the economic foundations that contribute to the evaluation of a country's economy, explain the nature of its adaptation to the global economic crises, and the economic components are also defined as a group of natural or industrial resources that provide support to the state's general economy and contribute to determining its rank.
Economically among the countries of the world, and among other definitions of the economic constituents: They are the means that provide strategic support to countries by strengthening their economic sector to influence global markets, by relying on the export of many goods and services between countries.
The fundamental economic challenges
Some economic sectors stopped working; Because of the lack of adequate resources, or the weakness of the economic support provided to them.
Lack of foreign investments, or their exit from the domestic market of a country that suffers from an economic crisis, or the presence of a small number of targeted customers from these investments.
Suspending tourism trips, in the event of a political crisis, such as wars, or an increase in financial values allocated to travel. Increase the value of loans owed to countries.