The new European institutional cycle (2024-2029) marks a turning point for Europe. It is an opportunity for the European Union to redefine its strategies to put competitiveness at the heart of its policies, and to successfully navigate the transitions – digital, green and geopolitical – that challenge its competitiveness and the future stability of its societies towards a more resilient, more cohesive, more competitive and more prosperous Europe.
We present Telefonica´s competitiveness vision for the EU 2024-2029
In a scenario where the new European institutions have made boosting competitiveness a priority, Telefónica presents “EU 2024-2029: Forging a competitive path. Digital by innovation, green by design”.
This document sets out our vision of the main challenges facing the region and offers recommendations to address them for the EU to capitalise on the opportunities arising from the digital, green and geopolitical transitions, boosting its competitiveness.
The vision, which we have been advancing through the series of articles published under the heading EU 2024-2029: Forging a competitive path, proposes a comprehensive approach that strengthens Europe’s ability to adapt and prosper.
From our perspective, an effective strategy to boost competitiveness is based on four strategic pillars: fostering an environment in which EU businesses can grow and compete; strengthening the telecoms sector as the backbone of competitiveness; boosting the digital and green transition for a “digital by innovation, green by design” competitiveness; and managing geopolitical transition for a stronger EU on the world stage.
The telecoms sector has a key role to play in this strategy, leading the development of the digital infrastructure and services that will underpin the digital economy and innovation of the 21st century.
This document is a call to action for the EU to commit to a robust competitiveness deal. We believe that now is the time to promote a favourable environment for investment and innovation, which recognises the vital role of the European business – particularly in the telecoms sector – in building a prosperous future, and which responds to the needs of business and the demands of society.
A challenging context for the EU cycle 2024-2029
The Maastricht Treaty in 1993 marked the birth of the European Union and the beginning of political integration beyond the economic sphere, coinciding with the fall of the Iron Curtain and the end of the Cold War, at a time of geopolitical change and European consolidation.
European leaders made the European Union a reality. Today it is a prosperous region of 27 countries, thanks to its political stability, single market, cohesion, development and enlargement policies, innovation and education. The euro is one of the strongest currencies in the world. Values such as inclusiveness, tolerance, justice and solidarity guarantee rights and freedoms, and ensure a high standard of living for its citizens.
Thirty years on, the European Union faces major transitions in digital, environmental and geopolitical spheres, as well as in its own governance with enlargement and further integration of its markets.
A call to action: a robust deal for European Competitiveness
The year 1993 marked the beginning of a new era in the economic and social history of the European Union, but 2024 is also a crucial year. It is the beginning of a new European institutional and political cycle for the period 2024-2029, and it is the region’s opportunity to act with determination to promote a more cohesive, digital, sustainable and competitive European Union.
Now is the time to step up and decide where Europe wants to be in ten years’ time. A robust EU competitiveness deal is a strategy for the well-being of its citizens and the competitiveness of its businesses.
In a global economy driven by digitalisation and technology, this deal must focus on Europe´s digital leadership, and recognise the key role of the telecoms sector, with its infrastructures, digital services and reach, in bosting productivity, economic growth, job creation and prosperity.
It is time to create the right incentives and align them with the needs of businesses. Fostering a favourable environment for investment and innovation and generating wealth that is distributed in a balanced way, is the only way for European society to thrive.
Competitiveness underpinned by a strong telecommunications sector
In this sense, the Digital Networks Act is the opportunity for the European Union to strengthen the competitiveness and sustainability of the telecommunications sector, as well as its commitment to the development of innovative digital connectivity infrastructures, for the benefit of European citizens, economy, defence and security. Given the geopolitical relevance of digital leadership and the urgency of revitalising competitiveness, this Act should be a clear legislative priority of the new cycle.
A robust EU competitiveness deal must be based on cooperation with the private sector around common goals. It is time to make 2024 a new turning point in the history of the prosperity and well-being of European society.
This paper consolidates in a single document Telefónica’s strategic vision for boosting the competitiveness of the European Union, which we set out in the series of articles EU 2024-2029: Forging a competitive path.
