Regions became the economic subjects which are competing in the globalized economic area. There are different factors determing the competitiveness of regions at the different stages of its development. There are 3 main development stages of a region by the classification of World Economic Forum - factor-driven stage, efficiency-driven stage and innovation-driven stage. The lower is the development stage of the region, the more competitiveness depends on the amount of production factors. In addition, the leading role at the highest stages of economic development is played by innovations.