web analytics
October 20, 2014 / 26 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
Aerial view of Yemenite Village of HaShiloach, Old City of Jerusalem and Mt. of Olives.
Jews to Double Presence in Old Yemenite Village of Shiloach, Silwan
Latest News Stories
Aerial view of Yemenite Village of HaShiloach, Old City of Jerusalem and Mt. of Olives.

Jews once thrived in the Shiloach area of old Jerusalem, known also as Silwan. Arabs and British came and drove them out. Now, they have returned.

Yitzchak Shamir Road

Prime Minister Netanyahu (L) congratulates Minister Yair Shamir (M) as President Ruby Rivlin and Jerusalem Mayor Nir Barkat look on (in the background), as Jerusalem’s new Road 9 is named after former Prime Minister Yitzchak Shamir, Israel’s 7th prime minister, who passed away in 2012. Yair Shamir, who looks very much like is father (and […]

Ismail Haniyeh, highest ranking Hamas member in Gaza, pictured Nov. 25, 2012.

#BDSFail as daughter of Hamas leader is treated in Israeli hospital.

Abbas was denounced by the SWC for trying to disassociate Jews from their holy sites and inciting violence against them.

The Jerusalem Intifada continues on…

A clear majority of Jewish Israelis oppose a Palestinian state, once they’re told the details of what it means.

Hamas has continued to test-fire its homemade rockets, firing them into the Mediterranean and into the Sinai desert in Egypt, where it has spotters. It is possible that the sirens this morning were tripped by such test launches.

The General Security Services (Shabak) of the State of Israel believes that more Israeli Muslims are preparing to join ISIS.

Israeli forces take part in a mass Ebola identification training exercise at Sheba Medical Center in Ramat Gan on October 17, 2014. Officials and employees from the Population Immigration and Border Authority, airlines, the Magen David Adom emergency medical services, the Health Ministry and the police participated in the drill, aimed at identifying travelers who […]

It’s raining today in Jerusalem, the first major rain storm of the new year.

Giuliani to keynote Klinghoffer opera’s opening night press conference and protest rally

At least 5 swastikas were discovered painted on the Temple Mount.

It is hard to believe, but Egypt is now dependent on Israel for gas instead of the other way around.

The checkpoint near Jenin was closed after the IDF thought a person passing through was a suicide bomber.

Barzilai hospital searched for its resident doctor-turned-terrorist after he disappeared and discovered that he changed professions.

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: