web analytics
October 22, 2014 / 28 Tishri, 5775
At a Glance
News & Views
Sponsored Post
Meir Panim with Soldiers 5774 Roundup: Year of Relief and Service for Israel’s Needy

Meir Panim implements programs that serve Israel’s neediest populations with respect and dignity. Meir Panim also coordinated care packages for families in the South during the Gaza War.



Missiles Targeted Israel’s Economy

The barrages of homemade Grad rockets and Iranian produced Fajr-5s that were fired by Tehran’s proxy Hamas and Islamic Jihad militias at Israeli population centers in southern and central Israel during the recent fighting were reportedly not only meant to kill and maim civilians but also to wreck Israel’s economy. The militias’ goal was to exact revenge on Israel, the U.S. and the EU for the stifling sanctions imposed on the Iranian regime.

Prior to the relentless rocket attacks on Sderot, Beersheba, Ashkelon and Ashdod, among other towns and cities, Israel’s Ministry of Finance said that despite a significant slowdown in various exports due to the EU’s ongoing recession, the Israeli economy was growing at a higher rate than the economies of the U.S., UK and EU. In addition, Israel’s foreign tourism industry was in the midst of its best year ever, with close to three million tourists having booked trips through the first quarter of 2013.

Several days after Fajr-5s were fired at Tel Aviv and Jerusalem, an Israeli Hotel Association executive told an Israeli business news site, “[It is] time to write off the winter season.” Sources say that a significant number of Christian groups canceled their pilgrimage missions planned for the forthcoming holiday season, while bookings from foreign individual tourists for the December-January winter vacation respite were down by nearly 25 percent. During a meeting of tourism industry leaders last Thursday, Israel Ministry of Tourism (IMOT) representatives said that, “The damage could be minimized, and it was estimated that the potential for rehabilitation is large in relation to other crises the industry has dealt with.”

The IMOT representatives stressed the urgency to implement rehabilitative actions because the tourism industry, unlike other industries, is highly unlikely to retrieve much of its lost revenue. They also said that a return to normalcy after the fighting is a crucial incentive for future tourists to visit Israel, thus enhancing the tourism industry’s ability to increase its profit margin. According to the IMOT, The Federation of Israeli Tourist Organizations has pledged to contact organizations that have canceled trips in an attempt to have them rescind their cancellations.

Tel Aviv, the headquarters of many of Israel’s major business entities (including the country’s stock exchange and a number of hi-tech and real-estate companies), was also battered during the past two weeks. Israel’s leading business dailies, Globes and Calcalist, reported that many foreign investors had stopped investing in the Israeli economy. This was especially so in the real-estate sector, as many foreign Jewish investors from Russia, France and the U.S. had been purchasing properties in a number of affluent Tel Aviv residential and commercial projects. The startling pictures of a severely damaged apartment building in West Rishon LeZion, less than five miles from Tel Aviv, in the aftermath of a Fajr-5 strike sent shudders throughout the Israeli real-estate marketplace. The damage to the relatively new building was estimated at nearly $1.5 million.

According to Israel’s Tax Authority, the overall indirect damage (loss of work and production) to the Israeli economy as a result of Operation Pillar of Defense is estimated at $100 million. But senior economists told Globes that when all of the damages are factored in, including damages to homes, infrastructure and tourism, the loss to the Israeli economy could approach $500 million.

About the Author:


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.

One Response to “Missiles Targeted Israel’s Economy”

  1. Doris Bachman says:

    Typical in war ….. That is what they were trying to accomplish!

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Aftermath of the vehicular terrorist attack at the light rail station near Ammunition Hill, Jerusalem, Oct. 22, 2014.
Arab Paper on Hamas Terrorist Attack: ‘Israeli Police Shoots ‘Palestinian’
Latest News Stories
Car in Light Rail Runover

Al-Shaloudi was the nephew of the former Hamas chief and bombmaker Mohiyedine Sharif.

Aftermath of the vehicular terrorist attack at the light rail station near Ammunition Hill, Jerusalem, Oct. 22, 2014.

Arab media describes Hamas vehicular terrorist attack as ‘Palestinian ‘shot dead’ by Israeli police.’

Clashes in Silwan

Police tried to reach the home of the driver in Wednesday’s attack.

Hundreds of Jewish leaders from around the world who are part of the Jewish Agency for Israel Board of Governor will convene in Ashkelon, one of Hamas favorite targets for rockets and missiles, next week. The Board had been set to meet in Mexico as part of its annual rotation amongst the world’s Jewish communities, […]

With all due respect to the IDF, since when is drug smuggling not linked to terror?

A demonstration by 10,000 in Isfahan for women’s rights has morphed into a protest against Iran’s regime.

Syria says it bombed the jets as they were landing in Aleppo.

The baby that was injured in the suspected terror attack this evening died in the hospital.

The train company’s video of the event in Jerusalem that left 8 people injured.

Haifa-based Elbit Systems won an $88 million from an unnamed Asian country for various projects, most of them for an F-5 aircraft avionics upgrade program and the supply of electro-optic and communications systems, Elbit announced Wednesday. The F-5 fighter jet has been in operation for more than 40 years four decades, and is used by […]

Wouldn’t be a lot easier if fanatic Haredim would simply charter their own planes?

One dead, 8 injured, 2 seriously when a car (purposely?) drove into a group of people waiting for a train in Jerusalem.

Please see this article for the latest update. Updates as soon as available. UPDATE 4, 6:42 p.m. Israel Time: Official word from Superintendent Micky Rosenfeld, Israel Police Foreign Press Spokesman is that nine people were injured by a vehicle which struck people at the light rail station. The shots people heard were ones fired at the […]

A Canadian soldier was injured after being shot on Canada’s Parliament Hill.

IMI To Be Privatized, Price Expected To Be 2.5 – 3 Billion Shekels

More Articles from Steve K. Walz
: Israeli soldiers leave Gaza late Monday. A three-day cease-fire brokered by Egypt put an end, at least temporarily, to the fighting. See story, above.

As of Tuesday, all IDF forces operating in Gaza withdrew and redeployed to holding positions around Gaza.

Walz-080114-Map

The operation against the tunnels is a first and necessary step in the demilitarization of the Gaza Strip.

The sophisticated cement tunnels, which cost hundreds of millions of dollars, were reportedly built with Qatari government funds.

Israeli Prime Minister Benjamin Netanyahu told the nation on Tuesday afternoon that if the rocket fire did not stop by Tuesday evening, he would order “an even harsher” military response.

“They were abducted and murdered in cold blood by human animals,” Netanyahu said shortly after the bodies were found.

Awad had been released as part of the Gilad Shalit kidnapping deal. Mizrachi’s widow, Hadas, told Israeli reporters that she had opposed the release of murderers as part of any kidnapping deal, and that Awad “deserved the death penalty so he wouldn’t kill again.”

If the abductors’ goal was to force Israeli authorities to release long-serving Palestinian prisoners, the effort backfired as Israeli forces are quickly rolling up what was left of Hamas in the West Bank and are reportedly contemplating the overthrow of the Hamas leadership in Gaza should harm come to the three teenagers.

Netanyahu brushed aside Lapid’s political threats, saying that he was either too politically inexperienced or unaware of the true nature of the peace negotiations with Abbas.

Printed from: http://www.jewishpress.com/news/israel/missiles-targeted-israels-economy/2012/11/28/

Scan this QR code to visit this page online: