Germany is facing a severe labor shortage and an aging population, with estimates suggesting a deficit of 7 million skilled workers by 2035. The country currently has around 700,000 unfilled job vacancies, leading to a decline in economic growth potential from 2% in the 1980s to 0.7%. German Economy Minister Robert Habeck highlights migration as a crucial solution to this issue, warning that failure to address it could further reduce the growth rate to 0.5%.
Contrary to expectations, EU countries (48.8%) have been witnessing wider demand followed by the US (27.6%) and the UK (9.5%), found the report, which gathered insights from over 25,000 aspirants across tier-1/metros (42.8%), tier-2 and tier-3 (57.2%) cities.
Study Abroad News: Find out about studying in Germany after class 12. Explore the courses, eligibility criteria, and other important details you need to know. Plan your education journey in Germany.