News
Valencian firms need to advance in technology and knowledge to reduce a 1.6-point competitiveness gap with Spanish firms
The competitiveness of Valencian firms is below the national average, with only 23.4% located in the top quartile of competitive firms in Spain; overall there is a gap of 1.6 points with the national average and there was “no favorable trend evident in the 2014-2017 period in terms of reducing the difference with Spanish companies”.
This is one of the main conclusions of Report 4, issued, in collaboration with the University of Valencia’s Chair of Family Businesses, by the Bankia-Valencian Institute of Economic Research (Ivie) Corporate Governance, Strategy and Competitiveness Observatory of the Valencian Community (GECE). Other notable messages are as follows:
- Highly competitive companies are the main generators of employment (44.7%) and value added (54%) in the region.
- Orientation towards high-tech and knowledge sectors is improving: 29.5% of added value generated by Valencian companies under five years old is associated with those sectors.
- The gap in technological/ knowledge intensity between Valencian and Spanish companies is close to 6 points and is observed at all competitiveness levels and even in young companies.
Report 4 by the Bankia-Ivie founded GECE Observatory analyzes how the competitiveness of Valencian companies has evolved over time.
