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Where Will The Irish And Egyptians Go?

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By Douglas A. McIntyre Published

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One of the by-products of unrest and austerity in Ireland is that many of the well-educated and well-paid have left the country or are in the process of doing so. The Wall Street Journal and several other media have made this point. But, Ireland is not the only nation which faces this problem. It occurs in Greece, and may eventually in Portugal.

And, the trend will almost certainly spread to the Middle East. Expatriates have already left Libya and Egypt.  Some of the best of the best of the citizens of these places will likely flee the region as well.

The Middle East will probably suffer from a “brain drain” which it can hardly afford. Countries there will not be able to overhaul their governments without capable people.  Roads, bridges and airports that have fallen into disrepair may have to be rebuilt.  Engineers and scientists who flee these nations might have been the core of their renaissances.

Another question about these emigrants  is where they may go. The US should get most of them because of its democracy and affluence. EU nations may get some of the intellectuals from troubled nations. Germany is an attractive destination with a stable economy and an advanced science, university, and finance system.  Few will wind up in China.

It is too early to tell where the Diaspora will eventually go, but the drain is not one that the developing nations in turmoil can afford.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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