Israel’s economy in 2010 – trends to watch for

I have commented that the Israeli economy ended 2009 in a solid position; absolutely and compared to competitors. So what’s in store for 2010?

I am not a great fan of predictions. But, whether you are an analyst or investor, there are several positive commercial tends to watch out for.

No, I will not concentrate on the stock market or specific companies, here I will look at sectors. Let’s start with tourism. The responsible government ministry bypasses most budgetary cutbacks. It has its own new investment centre. Last week, it launched a plan for 15 new golf courses. And the ministry is seeking to boost hotel space by 5% very rapidly. Ambitious but relalistic.

Jerusalem, through the efforts of its ambitious mayor, Nir Barkat, intends to be part of that pull of inward tourism. And outside this field, Barkat is looking to expand Jerusalem’s commercial base. He has scrapped a plan to tax high tech profits.

Cleantech will continue to flourish in Israel. Next month sees the 3rd International Renewable Energy Conference at Eilat.This remote city drew hundreds of participants last year, and this year is set to be even better. The event is a symbol of the advances that Israeli industry has made in exploiting solar and wind energy, as well as other new technologies.

Diplomatic considerations are never far from the mouths of most Israelis. What is generally accepted as one leading reason for Israel’s innovative strength is the number of high tech graduates, who had previously work on military projects. In 2010, the IDF has no intention of letting its competitive advantage slip, a good sign for the long term future of the country in general and for the economy specifically.

Finally, I do not want to ignore the retail sector. Quietly in the past decade, Israeli chains have been moving towards overseas markets. Ahava, a manufacturer of Dead Sea cosmetics, has a flag-ship store in London. Castro, adult clothes, has shops in Europe and in the Far East. I am starting to cooperate with a successful franchise line, looking to tackle Europe and America.

Quite a lot for a country of 7.5 million people.

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6 Comments on “Israel’s economy in 2010 – trends to watch for”

  1. Cinamonapple Says:

    Very proud. Very good start for 2010. Positive thinking will bring all to place. I wish all Just a very good luck. We Israelis must be proud day by day. Fox clothing are big in Singapore by the way.But compaction there is price and tough they have to be on guard all the time.

    Very best wishes for the new 2010.


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  3. Annette Says:

    Good points, I think I will definitely subscribe!🙂. I’ll go and read some more!


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