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Venezuela: Brain Drain Champion

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Chile is best and Venezuela worst when it comes to retaining talent and paying fairly.


BY CHRONICLE STAFF

 

Venezuela has Latin America’s highest level of brain drain and is also one of the worst worldwide, according to a Latin Business Chronicle analysis of an executive opinion survey from the World Economic Forum.


Executives were asked to what degree their country retained and attracted talented people. They could give a score of 7, which would indicate that there are many opportunities for talented people within the country. Or a score of 1, indicating that the best and brightest leave to pursue opportunities in other countries.

 

Venezuela received a score of 2.1. Only seven countries in the world got a lower score, according to the survey among executives in 139 countries.

 

That means the brain drain in Venezuela is worse than countries like Bulgaria, Macedonia and Algeria.

 

Many prominent Venezuelan executives have left during the current administration of President Hugo Chavez, who has been in power since 1999, while others left before. 

 

In 2002, Chavez fired 22,000 employees at the state oil company PDVSA after...

 



Keywords: Argentina, Bolivia, Brazil, Chile, Costa Rica, Ecuador, Mexico, Paraguay, Peru, Uruguay, Venezuela

 

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