Israel’s changing economy – not what is expected
Israel’s political map could be about to implode. In countries, such as the UK, the hatred of Israel is actively encouraged in some parts on mainstream politics. However, for all of these and other worrying issues, something beautiful is also happening.
- Israel’s first vegan supermarket recently opened for business, with more planned.
- In the mainly Muslim town of Shfárám, an Arab-Jewish industrial park is to be established.
- The role of women in Israeli VC funds is growing significantly.
- An innovation centre for children with special needs, whatever their background, was recently opened in Jerusalem
What brings all this together was a little known stat released by the Bank of Israel this week. Their original projection for economic growth in 2017 was 2.8%. This has now been revised upwards to 3.4%. That is a significant leap forward, benefitting many. And one of the key factors for the improvement must be the continuing openness of society, as described in the points above.
For the record, the position should be maintained throughout 2018 as well. This should be led to an increase in exports, despite the relative strength of the shekel.
I was left asking where else in the world do you see such potential being fulfilled, especially for such a small country which is surrounded by hostility?