How and why did nations compete for overseas empires?

Nations competed for overseas empires primarily to enhance their economic power, secure valuable resources, and expand their markets. This competition was driven by the desire for wealth, national prestige, and strategic advantage, particularly during the Age of Exploration and the subsequent colonial period. European powers like Britain, Spain, and France sought to establish colonies to gain access to raw materials and new trade routes. Additionally, the acquisition of territory was seen as a measure of national strength and influence on the global stage.