Israel Economy
A Success Story


Israel economy is a success story. This is a country with almost no natural resources, no oil and no underground minerals.

This is a country surrounded by enemies that have waved a great number of wars against the small state and even today some of them swear to wipe it out of the face of world.

At the beginning Israel was dedicated mainly to agriculture and proved to humanity what can be done with bare hands and lots of “seichel”, Hebrew for intelligence, of an arid land that was practically deserted by the end of the 19th Century.

The Booming Economy can be felt at the Azrieli Mall in Tel Aviv


Israeli Agriculture

Israeli Agriculture has developed so many innovations in its field, that they started exporting it to many countries that wanted to appreciate it to better their conditions. You could see Israelis growing mango in Puerto Rico or oranges in Colombia.

With the passing of the years and way into the second half of the 20th Century Israel started to shift into technology, at the beginning without abandoning agriculture.

I can say that as of today, the end of 2010, Israel is a worldwide leader in all kind of technologies, especially High Tech.

The biggest companies of Europe and North America in the field of High Tech have opened their branches in Israel in order to take advantage of the brains that have arrived from all over the Jewish world and established themselves here.

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Agriculture is still an important sector of Israel Economy


Israel Tourism

Tourism has been for decades a very important wing in the Israel Economy. The Ministry of Tourism through its offices all over the world does a great effort to bring as many tourists to Israel as possible.

Not only do they bring a great income to the country, these tourist become “Good Will Ambassadors” when they return home.

There are different groups of tourists to Israel, but the main two are: Holy Land Tours - The pilgrims arriving to Israel are all from different denominations.

The Catholics, the Evangelicals, the Adventists, the Pentecostals and many others will be guided by Israeli Tourist Guides according to their desires.

Jewish Tours to Israel - The Jews worldwide consider Israel their eternal Homeland and come to Israel with any excuse.

They celebrate their child Bat or Bar Mitzvah at the Kotel in Jerusalem or they visit relatives or plainly come to stay and enjoy the country and its development.

Besides these two groups of tourists, many more come for Medical Tourism to the Dead Sea, and just for fun to Eilat our own Red Sea Riviera.

The Arrival of Christian Pilgrims is a big drive to Israel Economy


Technology

The most important areas of Technology developed in Israel today are such as electronics, software, hardware, optics, communications and medical instruments; also pharmaceuticals, chemicals, military industries and metal industry.

Knowing it or not many gadgets used in today’s world even in the most recalcitrant of our enemies countries, are made in Israel. Just to mention a few: The Intel Chips inside every single computer, Cellular phones and answering machines among others.

In the course of time, Israel’s economical ideology has also changed. In the beginning, the economy was prominently centralist, characterized by major state involvement in economic activity. Following political change in 1977, Israel’s governments have adopted a more liberal economical policy.

On purpose I am not mentioning figures for GPD, inflation etc. This is a Travel Information site and I believe there are many people that know about economy more than me.

The Hadassah College of Technology preparing tomorrow's leaders


Israel Diamonds

The Israeli diamond industry began in 1937, before the Declaration of the Establishment of the State of Israel, when the first diamond polishing plant was opened in Petah Tikva by refugee experts from Holland.

In 1938 the 15% import duty on imported rough stones was removed. By 1944 the industry employed 3,300 workers in 33 factories.

The diamond industry in Israel is one of the leading world diamond trading centers for polished and rough diamonds.

Approximately half of the world's gem quality diamonds come out of Israel and can be found on a substantial portion of the most beautiful diamond jewelry sold worldwide.

Israel diamonds polishing factories, considered the most advanced in the world, are equipped with sophisticated polishing and processing technologies, most of which were developed in Israel.

A highly qualified workforce, employing advanced technologies, places the Israeli industry in a leading global position.

Ramat Gan is proud to host the Israel Diamond Exchange or "Bursa"


Israeli Currency

The State of Israel’s currency is the New Israeli Shekel (NIS) or shekel for short. In Hebrew it is pluralized as Shekalim and in English Shekels

There are 100 agorot (agora in singular) in each shekel. Bank notes are in denominations of NIS 20, 50, 100, and 200; coins are in denominations of NIS10, NIS5, NIS1 and 50, and 10 agorot.

Israel Economy is booming, prices of Real Estate are reaching the sky and people are spending is also high.

Image Credits:
agriculture n/a
diamonds n/a
hadassah technical by ilan costica
christians tourists n/a

All courtesy of Wikimedia Commons

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