Innovative development of CELAC countries as a factor of their investment attractiveness

The authors consider the problem of innovative development, which is one of the key factors in attracting investment in the economies of the countries of the CELAC region. Particular attention is paid to the fact that innovations create new opportunities for the development of economic sectors and the creation of new jobs. The authors reveal that innovations can contribute to the development of a sustainable economy and environmentally sustainable production, which leads to economic stability and attractiveness for investors. It is also determined that organizations and companies that invest in services and products related to innovation can earn high profits and strengthen their positions in the market. In addition, the authors study other problems existing in the region that may affect innovative development in the future. The authors analyze the following: low level of education of the population, low culture of entrepreneurship, limited access to capital and technology. But despite these problems, many Latin American countries show excellent results in the development of innovations and can compete with other regions of the world.