Following Hong Kong and South Korea, Israel ranked as 3rd most stable economy from 2016 given low unemployment rates; Israel sees record number of tourists in first quarter of 2017
Bloomberg has ranked Israel as the third most stable economy globally in 2016.
Israel follows Hong Kong and South Korea, Bloomberg citing Israel’s 4.8% unemployment rate and almost non-existent inflation as the reasons Israel’s economy is so strong globally.
Bloomberg featured a piece last month entitled “The Israeli Economy’s Got Intel Inside” where it stated that Intel’s recent acquisition of Israel’s “Mobileye” as “already shaping the country’s growth statistics, even before its record acquisition.”
Last month, Intel announced it would be purchasing Mobileye for $15 billion, the largest acquisition of an Israeli high-tech company to date. Mobileye and Intel have been working together since 2016 and Intel currently employs over 10,000 in its Israel branches. Intel will also be moving its automotive driving division to Israel sometime later this year to be managed by Mobileye’s CTO and co-founder, Amnon Shashua.
Israel has also seen a record number of tourists in 2017. From January through March of this year, there was a 24% increase in the number of tourists visiting Israel. Israel’s Tourism Ministry expects the summer of 2017 to bring in a record number of tourists, boosting Israel’s economy.