The relevant data point to a steadily worsening situation with respect to Greece’s demographics, a worrisome development that is weakening the country in many ways.
In this context, the so-called brain gain – the return of all those, who in most cases were among the “best and the brightest” – should be a national strategic priority.
As the country’s demographic decline continues, it is becoming more and more evident that the return of thousands of Greeks who have left to work in foreign countries would act as a badly needed boost, both economically and socially.
The brain drain, along with low birth rates, constitute a clear threat to the future of the country and demand immediate actions and well-planned measures.
Generous incentives for larger families are welcome, but this is obviously not enough – let alone a very long-term approach.
On the other hand, wooing back as many as possible of the tens of thousands of accomplished Greeks who were sought after for their qualifications and ended up going abroad is doable, and could benefit the country in the short and medium term.
There have been several tax and other types of incentives put forward, but the present situation makes clear that more needs to be done.
The policy must be multifaceted, aiming not only at convincing those who have left to come back, but also at preventing others who are still in Greece but not satisfied with the working environment from leaving.
This is not the Greece of the debt crisis, but rather an economy that is turning around. If it operates on merit and healthy competition, and if real forward-looking reforms are implemented, then wages will become more competitive. Maybe not at the level of major Western economies, but enough to lure many Greeks, and foreigners for that matter, to come to Greece, and be able to enjoy the numerous other dimensions of well-being the country offers, from the climate to the way of life.
Tax incentives are obviously a critical part of the equation to lure the right people, boost investment, and create the conditions for innovation to flourish.
But it will obviously take more than that: from a more modern education environment and a better public health system to greatly improved infrastructure, among other things.