This year, Israel celebrates its 60th anniversary of nationhood
The amount of news space that this small country occupies is somewhat remarkable, of which not enough is usually devoted to its contributions to business and industry. Those of us involved in telecommunications are likely more exposed to Israel than most other sectors of the economy - although bio-tech is another major source of exports.
The modern state of Israel has its roots in the Land of Israel (Eretz Yisrael), a concept central to Judaism for over three thousand years.
Israel has one of the world’s fastest growing developed economies.
Israel's impact on information and communication technologies and services has been immense: if you have deployed VoIP or mobile services, you are using Israeli technology. Most of the world's biggest carriers are using Israeli developed enhanced services platforms and most Canadians receive their phone or cable bills from an Israeli developed billing system.
In terms of trade North America remains Israel’s largest overseas exports destination with $18.7 billion worth of goods sold there in 2006, of which $17.85 billion was to the United States. During 2006 $15.5 billion worth of goods was exported to Europe and $8.5 billion to Asia. Israel is the only country in the world that has free trade agreements with both the European Union and NAFTA (United States, Canada and Mexico).
Israel is considered one of the most advanced countries in the Southwest Asia in economic and industrial development. The country has been ranked highest in the region on the World Bank's Ease of Doing Business Index[170] as well as in the World Economic Forum's Global Competitiveness Report.[15] It has the second-largest number of startup companies in the world (after the United States) and the largest number of NASDAQ-listed companies outside North America.[171] In 2007, Israel had the 44th-highest gross domestic product and 22nd-highest gross domestic product per capita (at purchasing power parity) at US$232.7 billion and US$33,299, respectively[4]. In 2007, Israel was invited to join the Organisation for Economic Co-operation and Development,[172] which promotes cooperation between countries that adhere to democratic principles and operate free market economies.[173]
Despite limited natural resources, intensive development of the agricultural and industrial sectors over the past decades has made Israel largely self-sufficient in food production, apart from grains and beef. Other major imports to Israel, totaling US$47.8 billion in 2006, include fossil fuels, raw materials, and military equipment.[2] Leading exports include fruits, vegetables, pharmaceuticals, software, chemicals, military technology, and diamonds; in 2006, Israeli exports reached US$42.86 billion.[2] Israel is a global leader in water conservation and geothermal energy,[174] and its development of cutting-edge technologies in software, communications and the life sciences have evoked comparisons with Silicon Valley.[175][176] Intel[177] and Microsoft[178] built their first overseas research and development centers in Israel, and other high-tech multi-national corporations, such as IBM, Cisco Systems, and Motorola, have opened facilities in the country. In July 2007, U.S. billionaire Warren Buffett's Berkshire Hathaway bought an Israeli company Iscar, its first non-U.S. acquisition, for $4 billion.[179] Since the 1970s, Israel has received economic aid from the United States, whose loans account for the bulk of Israel's external debt,[2] although that aid is expected to end in 2008.[163]
Tourism, especially religious tourism, is another important industry in Israel, with the country's temperate climate, beaches, archaeological and historical sites, and unique geography also drawing tourists. Israel's security problems have taken their toll on the industry, but the number of incoming tourists is on the rebound.[180]
Military Technologies in Israel (Some)
First of its kind
Amo Israel
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