The Fort Worth Press - Greece tries to tempt its emigrants back home

USD -
AED 3.67296
AFN 68.986845
ALL 88.969965
AMD 387.270403
ANG 1.802796
AOA 927.769041
ARS 962.500104
AUD 1.46944
AWG 1.8
AZN 1.70397
BAM 1.753208
BBD 2.019712
BDT 119.536912
BGN 1.75087
BHD 0.376904
BIF 2899.760213
BMD 1
BND 1.29254
BOB 6.912131
BRL 5.513604
BSD 1.000309
BTN 83.60415
BWP 13.223133
BYN 3.273617
BYR 19600
BZD 2.01627
CAD 1.356815
CDF 2871.000362
CHF 0.850904
CLF 0.033728
CLP 930.650396
CNY 7.051904
CNH 7.044285
COP 4152
CRC 519.014858
CUC 1
CUP 26.5
CVE 98.841848
CZK 22.45204
DJF 177.720393
DKK 6.68376
DOP 60.041863
DZD 132.29604
EGP 48.509604
ERN 15
ETB 116.075477
EUR 0.896095
FJD 2.200304
FKP 0.761559
GBP 0.751354
GEL 2.730391
GGP 0.761559
GHS 15.725523
GIP 0.761559
GMD 68.503851
GNF 8642.218776
GTQ 7.732543
GYD 209.255317
HKD 7.791375
HNL 24.813658
HRK 6.799011
HTG 131.985747
HUF 352.169504
IDR 15170
ILS 3.78597
IMP 0.761559
INR 83.48675
IQD 1310.379139
IRR 42092.503816
ISK 136.303814
JEP 0.761559
JMD 157.159441
JOD 0.708604
JPY 143.836504
KES 129.040385
KGS 84.238504
KHR 4062.551824
KMF 441.350384
KPW 899.999433
KRW 1333.355039
KWD 0.30508
KYD 0.833584
KZT 479.582278
LAK 22088.160814
LBP 89576.048226
LKR 305.193379
LRD 200.058266
LSL 17.560833
LTL 2.95274
LVL 0.60489
LYD 4.750272
MAD 9.699735
MDL 17.455145
MGA 4524.124331
MKD 55.221212
MMK 3247.960992
MNT 3397.999955
MOP 8.029402
MRU 39.752767
MUR 45.880378
MVR 15.360378
MWK 1734.35224
MXN 19.425675
MYR 4.205039
MZN 63.850377
NAD 17.560676
NGN 1639.450377
NIO 36.81526
NOK 10.50143
NPR 133.76929
NZD 1.603643
OMR 0.384978
PAB 1.000291
PEN 3.749294
PGK 3.91568
PHP 55.642038
PKR 277.935915
PLN 3.82645
PYG 7804.187153
QAR 3.646884
RON 4.456304
RSD 104.910232
RUB 92.350029
RWF 1348.488855
SAR 3.752625
SBD 8.306937
SCR 13.289304
SDG 601.503676
SEK 10.17897
SGD 1.291015
SHP 0.761559
SLE 22.847303
SLL 20969.494858
SOS 571.648835
SRD 30.205038
STD 20697.981008
SVC 8.752476
SYP 2512.529936
SZL 17.567198
THB 32.939504
TJS 10.633082
TMT 3.5
TND 3.030958
TOP 2.342104
TRY 34.11592
TTD 6.803666
TWD 32.001038
TZS 2726.202038
UAH 41.346732
UGX 3705.911619
UYU 41.33313
UZS 12729.090005
VEF 3622552.534434
VES 36.75395
VND 24605
VUV 118.722009
WST 2.797463
XAF 587.999014
XAG 0.032164
XAU 0.000382
XCD 2.70255
XDR 0.741335
XOF 588.001649
XPF 106.906428
YER 250.325037
ZAR 17.477835
ZMK 9001.203587
ZMW 26.482307
ZWL 321.999592
  • RBGPF

    3.5000

    60.5

    +5.79%

  • RYCEF

    0.0100

    6.96

    +0.14%

  • NGG

    0.7100

    69.54

    +1.02%

  • RIO

    -1.6050

    63.575

    -2.52%

  • GSK

    -0.7250

    40.895

    -1.77%

  • BTI

    -0.2250

    37.345

    -0.6%

  • AZN

    -0.4650

    78.435

    -0.59%

  • RELX

    -0.1500

    47.98

    -0.31%

  • BP

    -0.1250

    32.635

    -0.38%

  • SCS

    -0.3400

    12.97

    -2.62%

  • CMSC

    0.0300

    25.15

    +0.12%

  • VOD

    -0.0450

    10.015

    -0.45%

  • CMSD

    0.0400

    25.05

    +0.16%

  • BCC

    -2.1500

    142.54

    -1.51%

  • JRI

    -0.0900

    13.31

    -0.68%

  • BCE

    -0.3860

    34.804

    -1.11%

Greece tries to tempt its emigrants back home
Greece tries to tempt its emigrants back home / Photo: © AFP

Greece tries to tempt its emigrants back home

When Konstantinos Tsanis got his doctorate in finance in 2011 at the height of Greece's debt crisis, his chances of a well-paid job at home were pretty thin.

Text size:

So like hundreds of thousands of young Greeks he moved abroad.

Some 600,000 -- mostly well-educated -- left the country between 2010 and 2021, according to the country's finance ministry, which now wants to tempt them back with tax breaks.

But even as Greece actively tries to reverse the trend, data shows young people are still leaving, albeit at a reduced rate.

Greece is no stranger to brain drains and economic migration. In the late 19th and early 20th centuries, many of its brightest and best left in search of a better future in the United States, Canada and Australia, putting down the roots of a prosperous Greek diaspora.

But the latest exodus is enormous for a country of 11 million that had a quarter of its national output wiped out by sweeping austerity between 2009 and 2018, with wages and pensions also slashed.

At the time, up to half of Greece's population under 25 were unemployed.

Tsanis does not regret his decision to leave from a career standpoint.

"There was a lot of instability," he told AFP.

But he never felt at home during the 13 years he spent in the United Kingdom, US and Nigeria.

Wherever he moved, "I felt that I didn't really belong", he said. "I wanted to settle down and start my own family back in Greece," the 39-year-old added.

Two months ago, Tsanis returned to Athens to set up a startup, a move that would have been unthinkable 10 years ago.

Bringing expatriates back remains a key goal of the conservative government of Prime Minister Kyriakos Mitsotakis, who comfortably won re-election to a second four-year term last year.

"The country is on a progressive path," Tsanis argued.

From a high of 27 percent in 2013, unemployment in April fell below 11 percent -- although that is still nearly double the European Union average.

Some 350,000 people who emigrated during the crisis have since returned, the finance ministry said in March.

But many others, who started families abroad, will not be easy to convince, admitted economist Panos Tsakloglou, the deputy minister for social insurance.

- Tax rebates -

The state is offering a 50 percent tax rebate for the first seven years of relocation to Greece to tempt emigrants back.

Only around 10,000 people have taken advantage of the offer, Tsakloglou said, as living standards in Greece remain low.

The Greek minimum wage is 830 euros ($900), some 900 euros below that of France.

Last year, average annual income was half the European average, according to EU data agency Eurostat.

Eirini Kapogianni, an orthodontist who came home in 2019 after seven years in Germany, said returning to a country still scarred by crisis was "not easy".

"I had to start again from scratch," the thirtysomething said.

To help others like herself, Kapogianni set up a network called Back to Greece to exchange advice and job offers. Some 10,000 people have so far signed up.

"The young generation is well educated and has a lot to offer to the country," Kapogianni said.

US-based heart surgeon Michael Magarakis is torn between the "massive" career benefits where he is now and starting a family in Greece.

"The professional side is holding me back," he said.

"I'd be willing to sacrifice some of the benefits, I'm very close to that. At some point you have to call it a day and go back to your family and live your life," he said.

P.Grant--TFWP