Is Europe missing out on foreign talent?

By Lucie Cerna and Meng-Hsuan Chou. Labour market shortages in high-skilled sectors, demographic changes and constant pressure to innovate have prompted governments around the world to engage in a global competition for talent. In this context, the regional factor has become increasingly important, as governments seek to activate all policy instruments in the race for the ‘best and brightest’.
This is certainly the case in Europe.
In the most recent calculations, the European Commission estimated that Europe would need between 384,000 and 700,000 workers in the information and communication technology sector by 2015, and one million healthcare professionals by 2020. Unsurprisingly, we saw the European Commission opening its July 2013 communication on “European higher education in the world” with the title “Europe and the Global Race for Talent”. This reference set up the scenario that, unless attractive measures are in place, Europe might lose out. In the light of the ongoing financial and economic crisis shaking the foundations of the European Union (EU), how is Europe faring in terms of being an attractive destination for foreign talent? More...