HOLY LAND BOOK - Draft

Israel's economy is larger than all of its
immediate neighbors combined. Israel is a
technologically advanced market economy with
a highly skilled and well-educated workforce.
Cultural life is vibrant, restaurants and beaches
are crowded, and there is a lot of business being
conducted. The United States is Israel's largest
trading partner, and there are opportunities for
U.S. exporters. In 2010, Israel was granted
membership in the Organization for Economic
Cooperation and Development, the OECD. A
recognized leader in high-tech industries,
Israel's investment in research and
development is higher than any single OECD
country.
Some basic statistics from 2012:
Gross Domestic Product $387 billion (nominal
2017)
Exports US$ 62.5 B
Imports US$ 70.2 B
Tourists Arriving 3.6 million (2017) $5.8 Billion
revenue
Air Freight 275,870 tons
Electricity Productions 61 B kilowatt hours
Private automobiles 7.2 million
Unemployment 4.0%
Electric Car Grid Project
The California-based company Better Place
constructed an extensive grid of electric car
recharge stations across Israel in the hope to
launch it into oil independecy. Although the
company eventually filed for bankruptcy, the
grid is active and there are rumors that Tesla
may bring its electric car to Israel.
Gas Reserve Discoveries
In 2009, 60 miles off the Mediterranean coast of
Haifa, the Tamar field was discovered, with 8.4
trillion cubic feet of natural gas. In 2010, the
Leviathan was discovered also off the coast of
Haifa, the largest gas find of the decade with 16
trillion cu ft of gas estimated to be worth some
$95 billion. The expectation is that these gas
finds will support Israel’s gas needs for the next
100 years and transform the nation into an
energy exporter.
Securities trading in Israel dates back to 1935,
when the Anglo-Palestine Bank Ltd., together with
pre-state Israel's leading banks and brokerage
firms, founded the Exchange Bureau for Securities,
which acted as an unofficial stock exchange.
Trading and listings increased over the next
decade, and when Israel was founded in 1948, the
authorities made an effort to establish an official
bourse. The Tel Aviv Stock Exchange was
incorporated and began operations in 1953. A
decade later, a group of bourse members
established the TASE Clearing House Ltd. In 1968,
the Israeli parliament, the Knesset, enacted the
Securities Law, which created a solid regulatory
framework for the TASE operations. In 1983, the
Exchange moved to its current location at Ahad
Ha'Am Street in Tel Aviv.
Among the members of the TASE are 12 Israeli
banks and 14 brokerage firms. The Bank of Israel
is also an Exchange member and nominates one
of its senior officials as a member of the TASE's
board of directors.
The TASE trades shares of more than 650 listed
companies in a range of industries, offering a
broad opportunity for international investors. More
than 20 TASE-listed companies are also listed on
exchanges in other countries, mostly on the
Nasdaq and the New York Stock Exchange. Foreign
entities invested more than $3 billion in the TASE,
over 5% of the total market value of stocks traded
on the TASE. Outside the United States and
Canada, Israel has the largest number of NASDAQ
listed companies. The credit rating assigned to
Israel by Moody's for 2010 is A-1, and its shortterm
credit rating is P1, their highest rating
available for short-term credit.
In absolute terms, Israel has the largest number
of startup companies than any other country in
the world, except the US (3,500 companies mostly
in hi-tech). And Israel is ranked #2 in the world for
venture capital funds right behind the US with 70
active VCs and 220 international investing in
Israel.
The Holy Land - The Essential Guide to Living in Israel 19