Israel Is Considering For Their Easy Sailing Economy

1413 WordsApr 18, 20176 Pages
Israel, also known as the Holy Land. Most people only recognize Israel for the history of the City and for becoming allies with America. What most people do not know is the impact of foreigners in their economy. Israel is considering for their easy sailing economy. Israel currently has a modern market economy and excels in natural gas that was discovered off shore. Local business are supported by continuous high technology startups per capita. In 2013 Israel ranked ninetieth as one of the highly-developed countries compared to over 187 nations. Their current GDP is $299.42 billion dollars. In the past four years, the unemployment rate has dropped by 2.8% due to the job opening provide by the local government. Israel relies off of many…show more content…
In the past 20 years Israel has had an increase in annual exports raise about $20 million and $1.2 million over the past four years. Nearly 2.8% of the country 's GDP is derived from agriculture. Of a total labor force of 2.7 million, 2.6% are employed in agricultural production while 6.3% in services for agriculture One of the top industries that impact Israel’s economy the most is the tourists. Tourists come from all over to visit Israel. Most of the attractions include religious places, archeological items, and the almost unlimited sunshine aspects such as the various seas including the Galilee, Mediterranean, Dead Sea, and many more. In the years of 2000 Israel was topped as one of the top 3 most visited cities. They opened their doors to over 3 million travelers a year. Travelers enhanced the foreign currency earnings of $2.8 billion in 2006, i.e. 5 percent of the income from all exports and 16.8 percent of the export of services, With the impact of the visitors it provides 80,000 more jobs and adds nearly 85% to the currency. Despite economic prosperity, the Israeli economy faces many challenges, some are short term and some are long term challenges. On the short term its inability to duplicate its success in the telecommunication industry into other growing industries hampers its economic outlooks. Its inability to foster large multinational companies in the last decade also calls into question its ability

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