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RCC Survey: Young Talent Departure and Labor Shortage Challenges Facing Business

2024-01-13 09:29:25Biznes SHKRUAR NGA REDAKSIA VOX

RCC Survey: Young Talent Departure and Labor Shortage Challenges Facing Business

Macroeconomic instability, corruption and the migration crisis are the main problems faced by Albanian business. This is shown by the latest data from the Balkan Barometer for 2023, published by the Regional Cooperation Council (RCC). This is the ninth publication of this barometer and it comes at a time when Europe is facing major challenges for its security, while still facing the dangers of the economic crisis caused by the conflicts. The Business Opinion Survey is composed of 80 questions for 1,211 business owners, managers or executives.

"Scan Intel" has stopped at the Business Opinion Survey, analyzing some of the main business issues in the countries of the region. The measurement is done on a scale from 1 to 4 where 1 means a big obstacle, 2 a moderate obstacle, 3 a small obstacle and 4 no obstacle.

Macroeconomic problems and the "Brain Drain" phenomenon seem to be the biggest problems for Albanian businesses. Brain drain or "Brain Drain" is the process of losing talents and intellectuals of a certain country, who leave to work and live in developed countries. These two problems in our country have a score of 1.8 and 2 respectively.

The survey shows that macroeconomic instability is perceived as the biggest problem mostly by businesses in Bosnia and Herzegovina with 1.7 followed by Albania. In Albania, the availability of the workforce is the lowest, together with Kosovo, with 1.8. In the last 12 months this has become a major concern in Albania with companies and policy makers considering quotas for workers from South and East Asia.

Respondents from Bosnia Herzegovina and Albania identify brain drain and immigration as the main concern, while in other countries of the region it is also encountered as problematic.

The survey shows that Albanian business shows other problems such as financing costs and political instability or even corruption. On the other hand, the informal economy is a significant problem throughout the region, with the participation of the undeclared economy in the total economy.


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