Anti-Israel elements threatening boycott are encouraged by the pressure of American Secretary of State John Kerry, who says, “For Israel there is an increasing de-legitimization campaign that has been building up. People are very sensitive to it, there is talk of boycott and other kinds of things. Are we all going to be better with all of that?” Yet, boycott supporters should be better aware of how vibrant Israel’s economy is, and that the days of the Jewish State wiltering because of threats is not viable in the year 2014.
Israel has continued economy growth – even during a worldwide economic meltdown – along with a conservative, well-regulated banking system. Israel has approximately the same number of companies listed on NASDAQ as the next three countries combined, and, as one of the most technologically advanced countries in the world, is rightfully known as the “start-up nation.” Israel is no banana republic, and remains one of the most thriving economies in the Middle East.
The Israeli economy is booming, as can be seen from the comments of a very wide variety of sources and experts (which John Kerry and many others should read and recognize):
• “Technology companies and global investors are beating a path to Israel and finding unique combinations of audacity, creativity, and drive everywhere they look. Which may explain why, in addition to boasting the highest density of start-ups in the world (a total of more than 3,850 start-ups one for every 1,844 Israelis) more Israeli companies are listed on the NASDAQ exchange than all companies from the entire European continent.” – Dan Senor and Saul Singer
• “Israel, the land of milk and honey, is now also the home of business success, opportunity and major growth.” – Hedge Fund Billionaire Henry Swieca
• “If you’re going to the Middle East to look for oil, you can skip Israel. However, if you’re looking for brains, look no further. [Israel] has a disproportionate amount of brains and energy.” – Warren Buffet
• “[Israel is] the most important high-tech center in the world after the US.” – Eric Schmidt
• “Tel Aviv has been named the second best place in the world in which to launch a high-tech startup company.” – Viva Sarah Press
• “Israel has an enormous cash reserve of some $80 billion.” – Hezi Sternlicht
• “Science and technology in Israel is one of the country’s most highly developed and industrialized sectors. The percentage of Israelis engaged in scientific and technological inquiry, and the amount spent on research and development (R&D) in relation to gross domestic product (GDP), is amongst the highest in the world.” – InvestInIsrael.gov
• “So why Tel Aviv? The city is overflowing with software developers and venture capital. Larger companies, including Google, have set up offices there. Facebook is now there, too, after acquiring facial-recognition developer Face.com in June.” – Bloomberg.com
• “The Israeli startup scene needs little introduction. Tel Aviv is rapidly becoming one of the most innovative tech hubs on the planet, vying with London, New York and Berlin as Silicon Valley’s second.” – Monty Munford
• “Israel has a highly educated entrepreneurial community (40% with Masters/PhD vs. 42% in Silicon Valley).” – Zack Miller
• “From VC funds to conglomerates, foreign government partners to a smart international workforce, Israel has it all.” – Ron Hershco, Brooklyn & Israel financier
• “Swiss research institute IMD releases World Competitiveness Yearbook, ranks Bank of Israel first among world’s central banks.” — Olga Viniar
• “It should be noted that Israel’s ranking first in terms of the market’s durability in the face of crises is the direct result of the Treasury and the Bank of Israel’s actions, which withstood the pressures and did not pump funds into failing organizations and financial systems as the US and Europe did.” – Uriel Linn
• “Israel is good at creating international cooperation for funding in the R&D programs they establish. And they provide a great ROI when done correctly.” – Ann Liebschutz
• “Israel has one of the world’s fastest growing developed economies.” – Moital.gov.il
• “Israel’s output growth remains relatively strong, unemployment is at historically low levels, its high-tech sector continues to attract international admiration, and new off-shore gas fields have come on stream.” – 2013 Israel Economic Survey
• “We find ourselves in an age when both data is bursting forth via the Internet, and the economy continues to become more globalized than ever. For us it is a challenge, but even more, it is an opportunity.” – Benjamin Netanyahu
• “Steve Ballmer [Microsoft's CEO] calls Microsoft as much an Israeli company as an American company, because of the importance of its Israeli technologies. Google, Cisco, Intel, Microsoft, eBay…live and die by the work of [their] Israeli teams…. Israel, a tiny nation of immigrants torn by war, has managed to become the first technology nation….” – Wall Street Journal
No matter what detractors of the Jewish people there have been throughout history, the Jewish people have survived. The economy of Israel will continue to thrive and grow – and when there is a will, there is a way. Indeed, as my mother used to say: “This too shall pass.”
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