web analytics
December 18, 2014 / 26 Kislev, 5775
 
At a Glance
News & Views
Sponsored Post
8000 meals Celebrate Eight Days of Chanukah – With 8,000 Free Meals Daily to Israel’s Poor

Join Meir Panim’s campaign to “light up” Chanukah for families in need.



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
Sydney has banned the  Chabad menorah from being lit this year because of the murders in the Lindt cafe.
Sydney Darkens Hanukkah by Banning Chabad Menorah Lighting
Latest News Stories
IDF Girls Chanukah

Israeli soldiers holding (and eating) ‘sufganiyot’- doughnuts traditionally eaten on Hanukkah, as they pose for a pictures on the 2nd night of Hanukkah at a candle lighting ceremony held near the Gush Etzion junction. This particular lighting ceremony was held at a memorial spot in commemoration of the three Jewish teenagers who were kidnapped and […]

Aerial view of Herodian.

Excavations also turned up hidden tunnels dug by Jewish rebels in the period of the Bar Kokhba Revolt.

Sydney has banned the  Chabad menorah from being lit this year because of the murders in the Lindt cafe.

Is Sydney also going to turn out the lights on Christmas trees?

25-year-old man threatened former Shas party head with violence.

Are machine gun shots all night long and the death from a “work accident” not enough evidence for the EU court?

“It was crucial to my survival knowing that I was not forgotten.“

Feiglin decided he and the Likud party are better off if he fights on only one front, not two or three.

Join Meir Panim’s campaign to “light up” Chanukah for families in need.

I’m sorry, but Naftali Bennett decided to dress up as an aging Tel Aviv Hipster and… apologize…

The New York premier of Sony’s new film, “The Interview” has been scrapped due to a terror threat.

Harvard boycotts SodaStream to avoid offense to Palestinian Arab students.

FM Avigdor Liberman refuses meeting in Jerusalem with Swedish counterpart over PA recognition.

The State Dept. re-defines “unilateral” and won’t veto a resolution that does not explicitly ”prejudge” outcome of peace talks.

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: