Greek Think-tank Calls for ‘Brain Gain’ Strategy

As Greece recovers its economic standing, the Hellenic Federation of Enterprises (SEV) is stressing the need to also bring back its strong human potential, citing a study ranking countries and major cities on their ability to attract, develop and retain talent.

In its weekly bulletin, SEV urges the government to draw up a ‘brain gain’ strategy particularly in view of the fact that Greek tourism is growing into an economic force that can support thousands of jobs as well as pave the way for the creation of new opportunities.

In its bulletin, SEV cites the annual “Global Talent Competitiveness Index 2018” carried out by graduate business school INSEAD, staffing firm ADECCO and TATA Communications, which found that among 90 cities world wide, Athens is at the top in terms of retaining talent.

Overall, the Greek capital is ranked 28th globally and 15th among European cities in terms of ability to grow, attract and retain talent.

SEV notes that it is time now to ensure that Greece evolve into a hub attracting and retaining talent. To achieve this the following must apply: educational systems that meet the needs of the economy, employment policies that favour flexibility, mobility and entrepreneurship, and high connectedness of stakeholders in business and government.

According to SEV, Athens is at the top of the study due to the low cost of living, safety and the quality and availability of medical services. At the same time, the Greek capital also scores highly in terms of quality of life and environment, Internet access and the large number of students living there which fosters a dynamic environment for growth.

On the downside, Athens is lagging behind with regard to R&D expenditure, the presence of large international enterprises, GDP per capita, the presence of major international universities, as well as the lack of coordination and cooperation between local universities and international research institutions and businesses.