Summary
Portugal and other Southern European nations are struggling with a “brain drain” as young professionals migrate to wealthier EU countries for better pay and career prospects.
To counter this, Portugal plans tax breaks and housing incentives for under-35s, though many doubt these measures will be enough.
The talent exodus threatens tax revenue and labor markets, heightening Europe’s economic challenges amid population decline and low productivity.
Similar efforts in countries like Italy have seen limited success, as young workers continue to seek stability abroad despite incentives.
I find it interesting compared to the USA.
The USA has migration from richer parts of the country to select poorer parts because the lower cost of living makes up for the lower wages. There are also states that built themselves in part on the back of being a low cost of living place to retire.
Why isn’t Europe there yet?
Digital nomads are moving into Portugal, Spain and Romania. Not sure how they aren’t factored into the data
Best of both world is to work remote for those northern companies while having lower cost of living down south where the darkness of midwinter doesn’t hit as hard.
