Slovak industry is changing faster than ever before. Innovations, new technologies, green transformation, and the globalization of production create both pressure and opportunities. We discussed what is currently driving the Slovak business environment with Martin Vlachynský, an analyst at INESS – Institute of Economic and Social Analyses.
Martin studied economic policy in Brno, as well as management, economics, and international relations in Aberdeen. He has been with INESS since 2012 and has long focused on the business environment and competitiveness, especially in healthcare.
Talent is Draining away, and Data Confirms This
What Martin identifies as the biggest problem is also reflected in the latest figures. According to TASR, Slovakia finished in the IMD World Talent Ranking 2025, ranking 58th out of 69 countries when it comes to attracting talent.
The situation in key areas is even more serious:
- brain drain – last place,
- quality of higher education – 68th place,
- primary and secondary education – 65th place,
- availability of skilled workforce – 64th place,
- ability to attract foreign experts – 68th place.
In other words: talent is draining away, we cannot replace it, and we are unable to attract new talent. Martin also highlights this.
The biggest risk? Definitely brain drain
When asked about the biggest risks and opportunities for Slovak companies, Martin speaks clearly:
“I see the biggest risk in brain drain, in the outflow of young people that we are experiencing, and where I don’t yet see a complete solution that would change this.”
He adds that capital can be attracted and infrastructure built. But if talent leaves, their return is very difficult.
Nevertheless, he also sees an important positive factor: “Slovakia is part of Central Europe… and I think we still have the capacity to show the world many things, just as we were able to show them perhaps twenty years ago.”
So, the potential is still here – we just need to utilize it.
How to motivate young people to stay? There is no simple solution
Brain drain is a problem that politicians, universities, and companies are trying to solve. But according to Martin, it cannot be solved with a single measure:
“Simple methods like ‘I’ll give a scholarship, I’ll pay’ don’t work – young people won’t listen to this… everyone, when they are twenty, looks at a bigger picture.”
Young people are looking for a complete package – a place where they can grow professionally, start a family, and have a quality environment for both life and leisure.
“Companies and universities must unite to jointly offer such a package for an attractive future.”
The atmosphere is what matters. Not the crisis
Energy, inflation, demographics, or low growth can act as serious threats. Nevertheless, Martin adds: “I wouldn’t say that the mere fact of a crisis… is so daunting.”
He reminds us of countries that grew precisely during times of great challenges – Germany, Israel, Japan.
The reason? “There was enthusiasm… culture… a drive to do something better.”
And that’s exactly what he believes we need here too. “These things can be overcome with enthusiasm, effort, diligence, and innovation. We just need to have that faith within us, and someone needs to ignite that faith in people that we can truly do it.”
Slovakia Has a Chance to Grow – if We Believe We Have What it Takes
The interview with Martin Vlachynský clearly shows that the challenges are significant – but the potential is even greater. Slovakia has the location, experience, capable people, and room for innovation.
What we need most right now is:
- a unified vision,
- modern education,
- strong cooperation between companies and universities,
- quality conditions for life and growth,
- and an atmosphere that gives young people a clear signal that it makes sense to stay here.
The future of Slovakia will not depend on one institution. It will depend on all of us.
TEXT: Natália Stašíková
PHOTO: INOVATO
