BUSINESS

KEPE: Stem 'brain drain' and make the most of it

TAGS: Economy

Greece will have to make the most of the huge opportunities presented by the major achievements of diaspora Greeks for the benefit of the local economy, according to a study by the Center of Planning and Economic Research (KEPE).

Since the start of the financial crisis eight years ago, hundreds of thousands of Greeks have left the country to seek employment abroad. In contrast to previous waves of emigration, the majority of people leaving Greece for a better future today are highly educated youngsters, whose precious knowledge and skills are now being utilized by other countries.

The KEPE study stresses that there are two major policy challenges regarding the Greek brain drain: The first is how the flow of young people emigrating can be reduced to keep this skilled human capital in the country, and the second is how the presence of young Greeks abroad can be utilized, through the mobilization of the new diaspora to use their knowledge, skills and resources (such as its scientific, business and social networks) in ways that would promote economic growth in Greece.

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