The development potential of the high-tech industry in Serbia

Abstract

The development and deployment of high technology is a key driver of economic growth, a source of competitiveness, high value-added creation and the creation of well-paying jobs, both in developed countries and in countries in different stages of development. With this in mind, the paper follows the implementation of the sectoral approach followed by the High-technology industry to measure economic performance and the current contribution of the High-technology industry to economic development in Serbia. First, the economic importance of the high-tech industry in the European Union is explored, and then the development of the high-tech industry in Serbia from a development perspective in the future. The concluding part of the paper outlines the measures of active economic policy that must be implemented in order to accelerate the development of the domestic High-technology industry and to make it really the basis for the economic and overall social development of Serbia in the coming decades.