The Greek government is embarking on a strategic initiative to reverse the brain drain phenomenon by enticing Greek professionals and scientists who left the country during the economic crisis to return. The ambitious goal is to achieve “brain regain.”
Remarkably, data from the Conference and Workshop on Neural Information Processing Systems (NeurIPS), one of the world’s premier conferences on artificial intelligence, indicates that 11% of the global top 0.5% of AI researchers are Greek. However, the majority of them currently work outside Greece.
Quantifying this reversal effort, statistics reveal that approximately one in three businesses made one to six hires of Greek professionals from abroad in the past twelve months. Moreover, 5% of the surveyed businesses conducted 10 to 50 such hirings, with the average being higher for companies with an annual turnover exceeding €50 million.
The most sought-after specialties include information technology, management, and engineering disciplines (excluding information technology), with 48% of repatriated Greeks holding expertise in one of these fields.
Digital Tech Professionals Made up a Large Portion of Professionals Who Left
According to a study by the Hellenic Federation of Enterprises (SEV), a significant portion of those who emigrated during the crisis specialized in digital technologies, exacerbating the shortage of skilled personnel with these qualifications in the Greek job market.
Speaking to ” Ta NEA”, Professor Lois Lamprinidis of the Department of Economic Sciences at the University of Macedonia addressed the causes of brain drain, efforts to address the youth exodus, and indications of a potential trend of repatriation.
Lamprinidis emphasized various factors contributing to brain drain, such as bureaucracy, nepotism, and meritocracy. However, the key issue, he asserted, is the limited demand for specialized human resources, leading to high rates of underemployment and non-career-oriented jobs with relatively low salaries.
In terms of government incentives to encourage repatriation, Lamprinidis raised concerns about the effectiveness of incentives alone, pointing to countries that achieved repatriation success through a combination of significant development rates and incentives. He also questioned whether those who stayed in Greece should receive equal treatment, highlighting potential social injustice.
Source: tovima.com
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%