Economic growth refers to the increase in the production of goods and services in an economy over a specific period, usually measured by the rise in Gross Domestic Product (GDP). It indicates an improvement in the economic health of a nation, reflecting a higher output of economic activity and often associated with rising living standards and increasing employment opportunities. Economic growth can result from various factors, including technological advancements, increases in capital investment, improvements in workforce skills, and favorable government policies. It is a key indicator of economic performance and is essential for enhancing the prosperity of a society.
Finland's tech transformation occurred after the decline of Nokia, sparking a wave of entrepreneurial spirit among former employees. The Finnish government shifted focus towards developing a startup ecosystem, facilitating the…