11/16/2024

How Europe is Fighting Brain Drain as Talent Goes North

Talent flight to wealthier countries is a problem many European countries face

Until recently, aerospace engineer Pedro Monteiro figured he'd join many of his peers moving from Portugal to its richer European neighbors in the quest for a better-paid job once he completes his master's degree in Lisbon.

But tax breaks proposed by Portugal's government for young workers – up to a temporary 100-percent income-tax exemption in some cases – plus help with housing are making him think twice.

"Previous governments left young people behind," said Monteiro, 23, who is studying engineering and industrial management at the Higher Technical Institute in the Portuguese capital. "The country needs us, and we want to stay, but we need to see signs from the government that they are implementing policies that will help."

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