{"id":375,"date":"2023-12-12T16:56:36","date_gmt":"2023-12-12T14:56:36","guid":{"rendered":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel-2024\/?p=375"},"modified":"2025-03-27T11:05:03","modified_gmt":"2025-03-27T09:05:03","slug":"background-2024","status":"publish","type":"post","link":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/background-2024\/","title":{"rendered":"Background"},"content":{"rendered":"\t\t
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Established in 1948, Israel is the world\u2019s only Jewish state and the sole democracy in its vicinity. Israel is composed of many different nationalities and cultures and is home to religious and ethnic minority populations such as Muslim Arabs, Christians, and Druze.<\/span><\/p>\n

The city of Jerusalem is the nation\u2019s capital, the seat of the Knesset (the Israeli Parliament), the Israeli Government, the Supreme Court, and the Israeli President. The city of Tel Aviv, situated on the beautiful beaches of the eastern Mediterranean Sea, is considered Israel\u2019s financial capital.<\/span><\/p>\n

Israel has a diverse open market economy. Being a relatively young state in the modern era, Israel is recognized as a developed market by many major indices. Israel has been a member of the high-income sector of the OECD (Organization for Economic Co-operation and Development) since 2010, and a member of the FATF (Financial Action Task Force on Money Laundering) since December 2018.<\/span><\/p>\n

Israel has one of the most resilient and technologically advanced market economies in the world and is home to many international high-tech companies. Its skilled workforce and concentration of venture capital allow the country to lead in innovative industries such as high-tech and life sciences.<\/span><\/p>\n

Natural gas fields discovered during the past decade off Israel\u2019s Mediterranean Sea coast have brightened the country\u2019s energy outlook. The production from these fields is expected to meet most of Israel\u2019s energy demands for decades ahead.<\/span><\/p>\n

Israel\u2019s population is about 9.7 million, 73% of which are Jews; its GDP is approximately US$ 539 billion and the GDP per capita is about $55 thousand.<\/span><\/p>\n

On October 7, 2023, following a vile terror attack by Hamas, Israel announced the commencement of the Iron Swords War. In the wake of the War, it seems that the Israeli economy is demonstrating resilience and adaptability, potentially setting a foundation for recovery and positive changes. The high-tech sector, often referred to as the “Startup Nation,” continues to be a hub of innovation. The government is providing support to enhance this dynamic environment.<\/span><\/p>\n

While challenges in trade and heightened defense expenditure are anticipated, Israel’s robust defense industry is expected to thrive, leveraging its innovation and strong international reputation. Predictions from the Bank of Israel hint at a gradual recovery, with potential GDP growth, controlled inflation, and a stable currency, which could underscore the nation’s financial stability and its prospects for enduring economic prosperity, despite the prevailing challenges.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Established in 1948, Israel is the world\u2019s only Jewish state and the sole democracy in its vicinity. Israel is composed of many different nationalities and cultures and is home to religious and ethnic minority populations such as Muslim Arabs, Christians, and Druze. The city of Jerusalem is the nation\u2019s capital, the seat of the Knesset […]<\/p>\n","protected":false},"author":1,"featured_media":89,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[14],"class_list":["post-375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-14"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/posts\/375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/comments?post=375"}],"version-history":[{"count":30,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/posts\/375\/revisions"}],"predecessor-version":[{"id":1091,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/posts\/375\/revisions\/1091"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/media\/89"}],"wp:attachment":[{"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/media?parent=375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/categories?post=375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.raveh-ravid.co.il\/Doing-business-in-israel\/wp-json\/wp\/v2\/tags?post=375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}