Where have all the cowboys gone?

A labor shortage, sparked by educated young citizens moving west, is leaving a number of Eastern European countries in dire straights, reports The International Herald Tribune.

"Eastern Europe, along with the former Soviet Union, will by 2025 have populations that are among the oldest in the world," lamented Arup Banerji of the World Bank.

"The heart of the matter is this combination of the skilled labor shortage and the demographic trends."

And while the average working age is rising, wages have also risen by 10 percent this year versus last year, which may bode ill for foreign companies that heavily invest in Poland, Slovakia and the Czech Republic.

By 2025, around one-fifth to one-quarter of the Eastern European population will be over 65 years of age. And the average Slovene will clock in at 47 years old, which is among the oldest national averages worldwide.

And in the Czech Republic, Slovakia and Slovenia, the 65+ population will increase by over 60 percent between 2000 and 2025.