Improvement of Jeju regional competitiveness by comparing with Canton de Vaud, Switzerland

Abstract

This study was conducted to improve the income level of Jeju and to demonstrate stable economic growth. We analyzed the regional competitiveness of advanced foreign countries and studied the methods to apply them to Jeju. We introduced the concept of regional competitiveness and analyzed the four source factors of regional competitiveness based on previous studies. Analyzing the cases of Jeju Province and Canton de Vaud region, Jeju Province will seek ways to achieve high income level steadily in the future. As a result, the Jeju region has been trying to attract new growth engine companies. However, it is still concentrated in the tourism industry, while other industries are still vulnerable and lack access to innovative companies and professionals. However, the Canton de Vaud region has been proven to be highly competitive in terms of regional diversity and competitive location requirements for multinational corporations and industries. Therefore, considering the applicability to Jeju and the degree of competitiveness, it is analyzed that Jeju needs to attract global companies and boast knowledge-based industries like Canton de Vaud district. © Rushing Water Publishers Ltd. 2019.