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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.
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What is interesting is the latest reason the Arabs are rioting…
A mortar launched from Syria landed inside an Israeli agricultural area, close to 9am.
Assad and the rebels are fighting again for control over the crossing with Israel.
Jews seeking to shame Netanyahu into enforcing the Apartheid Green Line so as not to anger the UNGA are shameful.
Lady Gaga once again defies the BDSers and will appear in Tel Aviv on Sept. 13.
It’s only taken 12 years, but Jerusalem may once again have a Chief Rabbi…
The US embassy was taken over… so was the embassy’s pool.
Jewish Home leader blocks exhibition of dead bodies citing Jewish tradition to honor the dead; NIF objects.
Cabinet holds special session in Ashkelon, faces criticism from local residents, officials over lack of aid package
Mixing the Haredi Lev Tahor cult with a bunch of fiercely religious Roman Catholics is a recipe for dynamite.
For two-and-a-half years, residents of the Golan Heights understood that domestic interests in Syria would keep war away from them.
The Israel Museum has a wonderful interactive exhibit called “Bamboo”, or as the kids call it, “Bambuk”. Made completely out of bamboo poles and rope, you can walk all over around it, all the way to the top of this multistory structure. Highly recommended.
4,000 dunams in G’vaot area declared state land, will open door for large construction project.
Sgt. Shahar Shalev, an IDF paratrooper who was critically wounded in the Gaza Strip during Operation Protective Edge, has died of his wounds. His death brings the number of Israeli casualties from Operation Protective Edge to 72. Baruch Dayan HaEmet.
As of Tuesday, all IDF forces operating in Gaza withdrew and redeployed to holding positions around Gaza.
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.
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