A large number of available analyses and research on the brain-drain phenomenon support the fact that this issue is very relevant and important from different social aspects, and therefore we have chosen it as the topic of our paper. While analyzing the available theories, we were confronted with a number of different viewpoints regarding the brain-drain phenomenon: from a neutral impact over the negative to full positive impact of the brain-drain on countries of origin. All researchers, however, agree that there is a range of push and pull factors influencing the brain-drain phenomenon of the general social, economic, family, but also geographical and natural conditions. An important economic factor is the money arriving from developing countries precisely from the people who left their home countries. It is impossible to analyze the brain-drain phenomenon and ignore the globalization process. It directly affects the transformation of the brain-drain phenomenon into brain-circulation as a recent phenomenon.