Why was colonization important to many European countries during the late 19th and early 20th century?

Colonization was crucial for many European countries in the late 19th and early 20th centuries as it provided access to valuable resources, new markets for industrial goods, and opportunities for investment. It also served as a means of national prestige and competition among European powers, as empires were often seen as symbols of national strength. Additionally, colonization allowed for the spread of European cultural, political, and social values, which many believed justified their expansionist policies. Overall, it significantly contributed to the economic and geopolitical ambitions of European nations during this period.