Official data shows that since 2010, over half a million Greeks have moved abroad - this “brain drain“ was catastrophic for the Greek economy. Most of these specialists at the time went to Germany, whose labor market benefited from the influx of qualified personnel, writes ARD.
But in the meantime, the Greek economy has recovered and is currently growing faster than the EU average, and unemployment has dropped significantly. So the picture has changed: in 2024, for the first time, the number of Greeks who settled in Germany was smaller than that of those who left the country.
This shows that the workforce is becoming increasingly necessary in the home countries of these people, as demographic changes are causing more and more problems on the labor market there, Julia Reinold from the Nuremberg Institute for Labor Market and Occupation Research told the German publication.
How Greece plans to bring back those who left
Greece is trying to attract those who left the country with reduced income tax. The Greek government is actively advertising its opportunities: at career fairs abroad, it purposefully addresses highly qualified specialists with offers. Such a meeting will soon be held in Munich, where between 8,000 and 9,000 Greeks live and work. According to Konstantinos Agripidas of the Ministry of Labor, many of them are highly qualified specialists in the fields of medicine, IT, cybersecurity.
To encourage people to return, the government promises, for example, that they will pay only half of the income tax for seven years. In addition, it is planned to make it easier to recognize foreign diplomas. According to Agripidas of the Ministry of Labor, the opposite trend is already noticeable: currently, approximately two out of three Greeks who left the country after the crisis are returning, ARD notes.
The financial situation remains difficult
Economist Giorgos Ioannidis of the Center for Planning and Economic Research has reservations about this assessment. According to him, an economy that relies mainly on tourism continues to offer too few opportunities for highly qualified personnel. Many of those who return complain about low salaries. "Almost six out of ten people say they are in a difficult or rather difficult financial situation," says Ioannidis. That's why he doesn't accept the claim that Greeks who return end up in a "much better situation."
Irini Kapoyanni is among those who have returned to Greece after working as an orthodontist in Düsseldorf for years. She now has her own practice in Athens, but she doesn't hide the fact that her income has decreased since returning to her homeland.
To make it easier for returnees, the dentist has founded the network "Back to Greece," where people exchange experiences and help each other. The Instagram account already has over 27,000 followers. "I believe that other young people should also return from abroad. "To help our country, which has been in difficulty for so many years," Kapoyanni told ARD.
Bad news for the German labor market
The mass return of Europeans to their home countries is associated with risks for the German labor market. As Julia Reinold from the Nuremberg Institute for Labor Market and Occupation Research notes, at the end of last year, about 350,000 Greeks lived in Germany, representing a significant group on the labor market - especially in the hotel and restaurant industry, healthcare and information technology.
The data she has shows that "many Greeks are considering or even planning to leave Germany." Factors such as climate or lifestyle play a major role in this. Added to this are the high taxes in Germany, as well as the bureaucracy, adds the expert, quoted by ARD.