In the early part of the century, Greece endured a profound and protracted crisis. However, over the past several years, its economy has grown remarkably. With GDP growth of 5.6% in 2022 and 2.3% in 2023, Greece now boasts one of the EU's highest growth rates. This economic resurgence has coincided with an expansion in Greece's economic engagement with the world.

The Greek economy’s unparalleled growth has created a widening gap between labor supply and demand. Data from Q4 2023 reveals a shortfall of approximately 40,000 highly skilled jobs in the country. In fact, the majority of companies in Greece cite difficulty in securing suitable talent as one of their most significant hurdles towards sustained growth. Since local hiring alone cannot fill this void, there is a pressing need to attract international talent.

The authors recommend that Greece follow in the footsteps of the UK and Japan by introducing a Talent Visa, targeting recent graduates of top-tier universities globally.

A talent visa would allow recent graduates to enter Greece without having secured a job offer. This enables them to immerse themselves in the country, pursue economic opportunities, and explore Europe. Once they secure employment, they can smoothly transition to one of the other visas / residency permits offered by the Greek state, giving them the freedom and flexibility to shape their career path. It's important to highlight that this visa will not lead to Greek citizenship or application to permanently settle in Greece.

If executed effectively, the Talent Visa can contribute significantly to the Greek economy. In the short term, the program would attract highly skilled immigrants, helping to bridge the growing gap between labor demand and supply. Successfully integrating visa holders over the next few years could create a positive feedback loop, attracting more skilled immigrants and enhancing Greece's appeal as an employment destination. In the long term, highly skilled immigrants can drive innovation, increase patents, raise wages, and create more employment opportunities, particularly in high-growth sectors like technology.

A Talent Visa for Greece can become a beacon for talent in the country. Talented individuals from around the world can become startup founders, join high-growth startups, become employees in export-driven corporations, establish non-profits, and drive research and development. They should be given sufficient time to incubate these ideas, understand the Greek market, and test potential projects.