web analytics
May 29, 2015 / 11 Sivan, 5775
At a Glance
InDepth
Sponsored Post


Israel’s Continuing Success

Hi-tech

Photo Credit: Gili Yaari/Flash 90

While Israel’s economy is increasingly impacted by the global economic meltdown – which has decreased tax income, increasing budget deficit, requiring substantial cuts in government expenditures – Israel’s Central Bureau of Statistics revealed some fascinating statistics.

Israel’s economic growth during the 2nd quarter of 2012 was 3.2%, surpassing the 2.5% expectation, compared with a 2.8% growth during the 1st quarter. Growth per capita increased 1.4%, reaching almost $30,000. Exports of goods and services –40% of Israel’s economic activity – surged 10%, following a decline during the previous three quarters. Private consumption rose by 5.4%.  Investment in fixed assets, which constitute a key growth engine, fell by 1.1%.  Imports declined 9.3%. Inflation assessment is within the 2%-3% target, but recent and expected price increase raise concerns (Globes Business Daily, Aug. 17).

Beyond economics, Israel is excelling in other fields. According to an August 2012 Bloomberg global health survey of 145 countries, Israel ranked 6th in the quality of healthcare it offers its population, along with their general health status. The report was based on information by the World Bank, the UN the World Health Organization, and studied life expectancy, mortality rate, and obesity levels among other factors.  Israel followed Singapore, Italy, Australia, Switzerland and Japan, ahead of the Holland, France, Canada, Britain and the USA. While Israel’s hospitals are crowded, and there is a shortage of doctors and medical staff, medical care in Israel is funded by the government for all citizens, regardless of their financial means. Israelis’ life expectancy is among the highest in the world.

Israeli companies are still attracting foreign interest. Qualcomm, the $105 billion San Diego-based digital wireless telecommunications giant, has acquired Israel’s DesignArt for $130 million, leveraging Israel’s innovative manpower. Qualcomm operates an Israeli R&D center, employing 260 persons (Globes Business Daily, Aug. 23).  Europe’s $5 billion STMircoElectronics acquired Israel’s bTendo for $9 Million, which will be the core of ST’s R&D center in Israel (Globes Business Daily, Aug. 6).

The NYC-based OrbiMed Healthcare Fund Management led a $20 million  round of private placement by Israel’s Ornim, joined by General Electric. This is OrbiMed’s third investment in Israeli companies (Globes Business Daily, Aug. 22).  William Murphy, the CTO of the NYC-based Blackstone Group announced the first Israeli investment by the world’s largest private equity fund – the data security start-up WatchDox Ltd. (Globes Business Daily, Aug. 14).

Israel is also making its mark in the sporting arena. 35 years ago, the Soviet basketball champion boycotted Israel during the European Championship. During the 2012 London Olympics, David Blatt the Israeli coach of the Russian national team – a former Princeton basketball star, who is also the coach of Israel’s champion Maccabee Tel Aviv – was credited by his players for winning the bronze medal.

Originally published at http://www.theettingerreport.com/Overseas-Investments/Qualcomm%E2%80%99s-Confidence-in-Israel%E2%80%99s-Economy.aspx

About the Author: Ambassador (ret.) Yoram Ettinger is consultant to Israel’s Cabinet members and Israeli legislators, and lecturer in the U.S., Canada and Israel on Israel’s unique contributions to American interests, the foundations of U.S.-Israel relations, the Iranian threat, and Jewish-Arab issues.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Israel’s Continuing Success”

Comments are closed.

Current Top Story
What's happened to NYC's Celebrate Israel Parade?
Israel Rejects as ‘False’ UJA Federation’s Claims about Israel Parade ‘Inclusion’
Latest Indepth Stories
Keeping-Jerusalem

For a peace treaty with the PA, half the Israeli public would agree to divide the Jerusalem

As for the president’s new, softer tone vis-à-vis Prime Minister Netanyahu and Israel, this is most likely being driven by the results of the recent Israeli election.

What especially appeals to us is his grand – some critics would say extravagant –view of what the borders of Israel should look like.

There was something else of great importance in play – something we would have liked to see him take into account before deciding to stand with the boycotters.

The establishment of Hebrew University was a cause much beloved to Einstein who in 1923, during what would be his only trip to Eretz Yisrael, delivered the university’s inaugural lecture on Har Hatzofim (Mt. Scopus) and, discussing the theory of relativity, spoke the first few sentences of his address in Hebrew.

The Golden Square wanted Germany to destroy the British and Jewish presence in their country. The Third Reich craved what was beneath the ground – oil.

Ida Nudel’s account of how the Soviets persecuted and punished her was far worse than imagined.

Swim4Sadna is an annual event benefiting Sadna, an integrative special-ed community in Gush Etzion

Prof. Wistrich, was THE foremost historian of anti-Semitism; committed spokesman & advocate of Jewry

Jewish Voices for Peace’s 2015 Haggadah is a blatant anti-Israel screed crying, “L’chayim to BDS!”

On his shloshim, I want to discuss a term I’ve heard countless times about Rav Aharon: Gedol HaDor

After obsequious claims of devotion to Israel, Obama took to criticizing Israel on peace process

Mr. Obama, Israeli voters have democratically chosen to apply Israeli sovereignty over Judea&Samaria

Netanyahu so disdains Shaked’s appointment he completely ignored her after the swearing-in ceremony

More Articles from Yoram Ettinger
israeli-american flags

Pentecost, derived from the Greek word for 50, is celebrated 50 days after Easter.

President Obama

Realizing there was no US military threat, Iran resumed, expanded & accelerated its nuclear program

Suspension of disbelief towards Iran characterizes the Pres. administrations of both Carter & Obama

At 67, Israel reaffirms a historic fact: Pressuring the “Jewish Olive” produces superb oil!

The Constitution created history’s most powerful legislature & inherent foreign policy power battle

A serious peace-driven agreement and the nature of the Ayatollahs is the definition of an oxymoron

Defense, scientific and commercial cooperation between the US and Israel is surging unprecedentedly, in defiance of the unbridgeable gap between the worldviews of President Obama and Prime Minister Netanyahu. For example, 250 major US high-tech companies maintain research and development centers in Israel, which has become a major source of cutting-edge innovative technologies, improving US […]

German poet Heinrich Heine: “Since the Exodus, freedom has always been spoken with a Hebrew accent.”

Printed from: http://www.jewishpress.com/indepth/analysis/israels-continuing-success/2012/08/27/

Scan this QR code to visit this page online: