The Brain Drain of the Nation and the long term impact on the economy
Leading up to election time, I will focus a little on issues that have long term impact on the country. Moreover, I will also focus on social issues that should be brought forward for debate by the parties and that are rarely spoken about or not considered by mainstream politics.
One of the greatest resources Romania has is that we are a highly educated nation sometimes over educated, but that is for another article, and our average age is one of the lowest in Europe.
But, we are losing our youth, our potential for greatness and a future for the country. IT at the moment is one of our greatest exports, and for a better part the multinationals are establishing their bases in Romania and employing people at reasonable salaries and paying their taxes accordingly. Or have outsourced the IT services to business in Romania, especially Transylvania and Bucharest.
But what about the other industries, doctors, accountant/bankers, engineers, scientists and architects? There is an exodus of skill people leaving to the UK, USA and other parts of the globe. This means we are losing potential for new inventions, future jobs and growth potential for the nation.
Romania has a rich history for inventiveness in medical, aerospace industry and technology, IT and engineering that could be lost if we do not incentivise our youth to stay and create. Again it comes back to salary structure, scholarships for creativity and opportunity for the backbone of future to thrive.
We need to create an environment for universities to be funded well enough to retain our students to expand on their ideas, industries to invest in our youth education programs by way of tax incentives, government grants for start-up businesses that create new technology for future production in Romania.
Whilst we lose the brains that drive the future to other countries that create opportunity for those who create, we destroy our ability to remain competitive in the global market as an investment destination.
Business looks at investing in the future and the brighter a future of a country, the more long term investment we can attract.
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