This article analyzes the level of competitiveness of the Belgorod region -one of the developed and promising regions of the Russian Federation. The relevance of the study is justified by the government priority, associated with the development of the competitive environment of the country's territories. The study of the complex of measures taken by the Belgorod Region, aimed at developing competition, allowed the authors to determine the vectors for the development of the region's competitiveness, identified by a number of potential signs and factors, the most important of which the authors combined into five blocks: economic, investment, innovation, infrastructure and social.In order to determine the prospects for further development of the Belgorod region's competitiveness within the framework of the article, the author's methods of assessment of the potential for increasing the competitiveness of the region were offered, based on the calculation of the composite integrated index and the determination of the significant importance of each of the indicators that form the potential. The constructed forecast model allowed extrapolating the results of the research for the next period and suggesting the dynamics of development of the region's competitiveness for the next two years.