Abstract. This article deals with the indispensable factors determining the effects of competitiveness and innovation on economic growth by investigating the connection between crucial indicators. The competitiveness and innovation of the European leading and following countries are strongly connected to its economic growth. The aim of this article is to explore the significance of competitiveness and innovation in boosting economic growth per capita in selected European countries. In order to explore the effects among the factors of competitiveness and innovation on economic growth per capita, differsified methodological evaluation tools have been used. The data were collected from both primary and secondary sources. Comparative analysis of European leading and following countries was utilized by the statistical software package SPSS 25. The research results highlight the crucial competitiveness and innovation factors for prospected economic growth in selected economies. The corresponding measures bounded for economic growth are associated to the high composite indices of competitiveness and innovation achievement. Admission the diversities between relevant indicators and recognition of vulnerability is the base for the ensuing acknowledgement of appropriate economic performances for progress the demanding segments.

Keywords: revealing the effects, competitiveness, innovation, economic growth, European leading and following countries.