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Israel’s Impressive Economic Growth

1.  “Israel economic growth unexpectedly accelerated to an annualized 4.7% in the 2nd quarter of 2010 [compared with 4.1% in the Euro Bloc, 2.4% – USA and 0.4% – Japan]. It is the fastest pace in more than two years, as exports [19% industrial exports surge in the 2nd quarter] and consumer spending [8.7% in the 2nd quarter] increased [as well as 11% rise of investment in fixed assets]… rising from 3.6% in the 1st quarter [and 4.3% in the 4th quarter of 2009]…”

 

“This is really an economy running on all pistons… The Israeli economy’s rebound from the global financial crisis has been powered by exports, which make up almost half of gross domestic product.  Sales abroad increased in July to $3.8BN, the most in two years… Europe’s economy expanded 1% in the 2nd quarter of 2010 from the previous three months… Israel’s unemployment is likely to drop to 7.3% this year, from 7.6% in 2009… Next year, unemployment is likely to decline to 6.8%, according to Israel’s Ministry of Finance…Inflation eased in July to an annual 1.8%, its slowest pace in more than 2.5 years…” (Bloomberg, Aug. 16, 2010).  

 

2.  Gallup’s Global Wellbeing (life satisfaction) Study of 155 countries (March, 2010) ranks Israel, Switzerland, Canada and Australia as #8/9/10/11 (62%), following Costa Rica (63%), New Zealand (63%), Netherlands & Sweden (68%), Norway (69%), Finland (85%) and Denmark (82%), ahead of the USA (57%), Brazil (58%) and most of Europe. 

 

3. AT&T is establishing three innovation centers (“Rethinking Possible”) – two in the USA and one in Israel, leveraging Israel’s unique manpower (Globes, July 19, 2010).  A few of Israel’s innovative cutting-edge technologies: Veterix developed an electronic capsule, inserted into the stomach of a cow, sheep, goat, transmitting to farmers’ cellular/e-mail real-time data on the health of the herd. Also, Israeli scientists discovered that brackish water, drilled from a few hundred feet deep desert aquifers could be used to raise warm-water fish.

 

4.  PriceWaterHouse’s “Money Tree”: a 21% rise in the scope of investments in Israel’s high tech industries during the 2nd quarter of 2010 ($206MN), compared with the 1st quarter and a 27% rise compared with the 2nd quarter of 2009. 

 

5.  Menlo Ventures led a $15MN round of private placement by Israel’s Xlight.  Spencer Trask Ventures led an $11MN 2nd round by Israel’s Precyse (Globes, Aug. 18).  Sequoia Capital led a $10MN 4th round by Israel’s Kenshoo (Globes, July 29). 

 

6.  $57.5MN raised on NASDAQ by Israel’s MediaMind (Globes, Aug. 12).  Israel’s D-Medical raised $17.3MN on NASDAQ (Globes, Aug. 10).  




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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