Economic Resilience
Economic resilience refers to the ability of an economy to withstand and recover from shocks, such as financial crises, natural disasters, or sudden changes in market conditions. It involves maintaining essential functions and services while adapting to new challenges, ensuring that businesses and communities can bounce back effectively.
Key factors contributing to economic resilience include diversification of industries, strong infrastructure, and effective governance. By fostering innovation and investing in education, regions can enhance their capacity to respond to disruptions. This adaptability helps to minimize long-term negative impacts and supports sustainable growth in the face of adversity.