Brain Gain in the EU and Greece. Can brain drain be reversed?

1. Background:

• Following a decade-long recession, Greece has experienced a significant shift from brain drain (where highly skilled professionals leave the country) to brain gain (where they return or new talent arrives).

• This trend has been triggered by the pandemic crisis and is spearheaded by substantial investments from top international companies in the local Greek economy 2

1. Factors Contributing to Brain Gain:

• Investments: The influx of foreign investments has created job opportunities and attracted skilled professionals back to Greece.

• Opportunities: Improved economic conditions and career prospects have motivated Greeks abroad to consider returning home.

• Pandemic Impact: The pandemic has reshaped work patterns, making remote work and global collaboration more feasible, thus encouraging repatriation.

Brain Gain in the EU

1. Intra-EU Migration Trends:

• The share of EU citizens of working age living in another Member State increased from 2.9% in 2011 to 4.1% in 2019.

• However, in 2020, for the first time since 2011, this trend was inverted, with the share dropping due to the impact of the COVID-19 pandemic and Brexit.

• Several EU countries, including Bulgaria, recorded a rising number of returning migrants in 202037.

1. Role of Migrants in the EU Economy:

• The pandemic and Brexit highlighted the key role of migrants in the EU economies.

• The temporary nature of migration underscores the importance of policies that address both brain gain and brain drain.
  

In summary, while challenges remain, the shift from brain drain to brain gain is a positive development for both Greece and the broader EU. It reflects changing dynamics, economic opportunities, and the resilience of skilled professionals, as well as great opportunities for Greek companies to attract top talent.

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