Israel’s economy breaks records in several categories in 2019; Some of these categories include exports, tourism, etc.; GDP grew to an astounding 4.8%.
Several records were broken in 2019 when it comes to the booming economy in the Jewish State. At its conclusion, the Gross Domestic Product (GDP) rose to 4.8% in the last quarter of 2019 at the fastest rate in two years. Overall in 2019, the GDP averaged out at 3.5%, crushing the looming doubts amid the political uncertainty and upcoming election. Even before including import taxes in the equation, growth reached 3.3%.
Investments jumped to just below 9% and private consumption increased by 10%. Both of these helped bring about such a positive fourth quarter in 2019. Israel surpassed Japan, France, the UK, most of Europe, as well as Asia and America. Without question, Israeli Prime Minister Benjamin Netanyahu will receive a positive push in the upcoming election on March 2nd while his leadership is taking the country in such a positive economic direction.
In addition to their economic success, according to the World Talent Ranking for 2019, Israel ranked 19 out of 63 countries when it comes to attracting and retaining their workers. This is critical when it comes to keeping your nation competitive on the economic stage.