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The concept of the New Generation Economy and its foundations
In the era of globalization, digital transformation and climate change, the nature of the modern economy is changing rapidly. The concept of the “New Generation Economy” expresses the level of adaptation of countries to the challenges of the 21st century - the widespread application of digital technologies, the intensity of innovative activity, sustainable (“green”) development approaches, smart management systems and social inclusiveness (inclusivity). The new generation economy is multidimensional in nature and is characterized by such features as rapid digital technological development, large-scale innovation, sustainability in economic growth and a development model in which no one is left behind (inclusivity). That is, as the global economy is increasingly built on knowledge, technology and human capital, the competitiveness of countries no longer depends only on the GDP growth rate - the skill level of the population, the innovation environment, the quality of infrastructure, health indicators and other factors are of great importance.

  • Opportunities based on Azerbaijan's 2019 results

    2026-02-05

    Azerbaijan’s young demographic profile and educated workforce potential are a great opportunity for transformation. Being in the demographic dividend period (median age ~32, share of working-age population ~70%) means that the workforce will increase in the coming decade. There is an opportunity to build strong digital platforms, promote the development of startups - especially the country’s high internet penetration and young specialist base in the IT sector create conditions for this. Due to its geographical position, Azerbaijan can be formed as a regional digital center and transit hub. If the right policy steps are taken in all these directions, it is possible to turn the existing input advantages into real economic results.

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