Urban Happiness and Self-Realization of Young Entrepreneurs: The Determining Factors to Reduce Brain Drain

Abstract

Introduction: The objective of this article was to analyze Urban Happiness and the self-realization of young entrepreneurs taking in to account the determining factors to reduce the brain drain in the Latin American context. The methodology used for this study was qualitative, for which semi-structured interviews and a Social Network Analysis (SNA) were used using the Ucinet software, which allowed obtaining a broad perspective of the entrepreneurial ecosystem of the city of Barranquilla. The most important findings were the identification of the determining factors in the retention of young entrepreneurs, the relevant aspects of urban happiness and entrepreneurship, and the managers that make up the entrepreneurial ecosystem. It can be concluded that this study makes a first theoretical contribution that provides the academic and business community with a vision of the social context and the impact that urban happiness has on the self-realization of young entrepreneurs in the reduction of the brain drain in Latin America.

Objectives: The aim of the article is to analyze the relationship between Urban Happiness and the self-realization of young entrepreneurs in Latin America, focusing on the key factors to reduce brain drain. Through this analysis, we seek to understand how these factors can influence the retention of young talent in cities

Methods: The research follows a qualitative approach. Semi-structured interviews with young entrepreneurs and a Social Network Analysis (SNA) were conducted using UCINET software. The study focused on the city of Barranquilla and examined the interactions between key actors in the local entrepreneurial ecosystem. The analysis allowed us to identify factors that influence the retention of young entrepreneurs, particularly those related to quality of life, motivation and economic stability, linked to urban happiness.

Results: The findings of the study indicate that urban happiness and the self-realization of young entrepreneurs are crucial factors in talent retention. Quality of life, economic stability, and motivation play a decisive role in entrepreneurs choosing to stay in their city instead of emigrating. Barranquilla’s entrepreneurial ecosystem, which includes key actors from the public sector, businesspeople, and academia, has the capacity to offer opportunities that favor retention, improving quality of life, and promoting self-realization

Conclusions: The study presents a novel theoretical contribution by linking urban happiness with the retention of entrepreneurial talent in Latin America. It offers a comprehensive approach to understanding the role of the entrepreneurial ecosystem in reducing brain drain, providing a useful tool for both academics and government entities.