Cargando Video
Friday, September 10, 2010
Special Reports

Venezuela: Brain Drain Champion

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

SUCCESS POST-PDVSA: Venezuelan Ronald Pantin, CEO of Pacific Rubiales in Colombia, achieves strong success a decade after leaving PDVSA. (Photo: Pacific Rubiales)

GOOD BYE, CARACAS Talented executives are leaving  Venezuela and its capital Caracas more than other countries, a new survey shows. (Photo:Guillermo Ramos Flamerich)



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...


Full story

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


Post Your Comments
You can write a comment on this article by clicking here.

From: Fernando Quintero

Dallas, TX
This has been occurring for many years now and it will not stop until Mr. Chavez is long gone and policies are reviewed. The misfortune for Venezuelans is the cummulative impact this poses when you have a resource "rich" country with no brain power or intellect at all to manage the richness. With all the oil and other resources it still looks and feels like one of the poorest countries in the world, this is the net result of this drainage.

From: Bolivariano

Boston, MA
There are a lot of opportunities in Venezuela if you're interested in working and living there. If your interest is to grab as much money as you can and then deposit that money in US banks, then forget it.
The standard of living has gone up since Chavez. Venezuela was in a terrible state when the executives ran the country. So stay away from Venezuela if you don't have the best interest of the country at heart.

Write your comment

Latin Business Chronicle welcomes your comments. We reserve the right to edit and will not publish any illegal, obscene, defamatory or discriminatory commentaries.

- Your name

- Location    

- Comment:
Maximum 700 characters

Please, do not write in capital letters.

* Your comment will be validated befor apearing public.

  Other articles in : Special Reports