Israel

Lazar & Co, Israel – Global Accounting Alliance Member

Economic Overview & Business Opportunities

What reminds you when talked about Israel? The Jewish history in the Land of Israel or the Hebrew language? Israel, slightly larger than Massachusetts, lies at the eastern end of the Mediterranean Sea.

As one of the most resilient and technologically-advanced market economies in the world, Israel pride itself as a nation of “start-up” with Its skilled workforce and concentration of venture capital allow the country to lead in innovative industries such as high-tech and the life sciences. Israel consistently ranks high among the world’s economies in terms of its technological readiness, venture capital availability, and the quality of its research organizations. The key factor that promotes the innovation and productivity growth of Israel is the nation’s openness to global commerce.

Over the years, Israel has experienced a high average rate of growth. Given its small consumer market domestically, Israel has strategically turned beyond its borders to sell its products and offer its technologies. Other than the high-technology and industrial manufacturing, the diamond industry is another important sector that contributes to the economic growth of Israel. The strengths of Israel economy, which stand behind the technology-driven growth of the economy in recent years, are the well-educated workforce with post-secondary education, a fair amount of research and development, and a high percentage of high technology industries in the economy. These are the strong factors upon which economic growth has depended thus far.

Other areas where Israel has an edge, are its global edge. The export-oriented focus, generations of immigrants from around the world with their knowledge of cultures and languages and global networks of connections, have long contributed to position Israel as an island of success.

Matan Lazar
Partner