Business in Israel

By 06 April 2021

Israel is often an overlooked economic powerhouse from what is often portrayed in the media as a religious fraction and nothing more. What do you know of Israel? Judaism, Yasser Arafat, Benjamin Netanyahu, the war on Palestine? This is about as far as common knowledge of awareness of Israel goes. Israel has great ties with the USA and this is more than just a religious basis. The country is in a state of dominance across several industries and our site will be presenting these areas to express Israel’s growing dominance.

Israel’s Technology and Manufacturing

Though the Israeli infrastructure may not be on the same levels as that of India and China when it comes to the delivery of mass goods and production, there is still the economic drive there that allows Israel to be a player on the worlds manufacturing stage. This is due to the Start-Up Nation’s supreme excellence in the realms of advanced engineering, along with R&D.

The country has made a name for itself in the high-tech markets that include cloud and big data storage with sensor systems and highly advance processors. This also includes the manufacturing of technology with industrial robots and the low-cost development of IT in general.

Israel are now leading the market in R&D and have established centres in Teva Pharmaceutical, Intel and HP. Through vibrant innovation and dedicated research, the industry is thriving in the sector and is leading the next generation of innovation within the computing industry. It has developed sophisticated programming solutions for low-tech industries from the world of ceramic textiles and into plastics that, in turn, help them to develop their innovative processes.

Here is one case and example:

Hanita Coatings was owned by Avery Dennison in 2017. Ut developed products for printing, labels, appliances and offered glass security with these industries for over 30 years. All with considered primitive machinery. Once integrating more advanced technology and harnessing solar controlled window film to help reduce the energy outlay when it comes to cooling and thermal insulation.

The focus on constructive materials and through innovative design, Israel continues to show its place on the world’s market that is of great benefit to everyone.

The Diamond Industry

Not many will have known of the important role Israel plays in the wholesale role of cut diamonds, but it is one of the countries chief industries. The diamond trade accounts for 23% of the entire countries exports which equates to being 12% of the entire world’s production on cut diamonds.

The Israeli Diamond Industry is one of the world’s leading centres, forming both a hub for manufacturing and another for trade. The Israel polishing factories are considered to be the most advanced and come equipped with the latest in sophisticated diamond cutting and manufacturing technologies. Their approach and process have all been developed locally, from laser cutting tools, through to automatic polishing devices and machines. There is also the highest standard of computer aided design which are used throughout the global diamond industry.

The success of this diamond industry is built on sheer know-how. Expert craftsmen is something that is born of the people in Israel and cannot fully be teached. The expanse of their knowledge on the subject is found within India, Africa, and China. There you will always find a senior role within these foreign diamond industries with an Israeli at the helm or close to.

The Israeli Dimond Exchange was established in 1937 and holds approximately 3,000 members that are engaged to the manufacturing and importation and exportation of the goods. The online site is a supermarket of goods for any diamond buyer, with every type of diamond and every shape and size. You can find all colours and gradients from their award-winning services that form a key role in the World Federation of Diamond Bourses and amongst other famed institutions like the World Diamond Council and the International Diamond Manufacturer’s Association.

Tourism in Israel

Tourism is a major contributing factor to the country’s economy, and it is in largely down to the religious pilgrimages made by those of the Jewish faith. On average, 3.5 million people descend upon Israel each year and head to the West Bank.

Israel hosts a plethora od religious sites and places of historical significance. But there are also beach resorts and sites of natural beauty to visit. When it comes to museums, Israel holds the most per capita in the world. The two most popular destinations for a tourist is the Western Wall, plus, the grave belonging to the Rabbi Shimon Bar Yochai. There are also Christian holy sites that are accessible, such as the Church of the Holy Sepulchre, the town of Bethlehem where the Church of Nativity resides and the Basilica of the Annunciation in Nazareth.

Unsurprisingly, the vast majority of the tourism comes from American with 19% accounting towards the contribution. This is followed by those head over from Russia, Germany, France, Italy, Canada, and Poland.

Jerusalem the most-visited city in Israel and is deemed to be the capital and the holy city to those of Arabic religious belief, Judaism and Islamic faith and Christianity.

Sites like Tourist Israel is one of several high-end guides that will allow you to make bookings at all the heritage sites for your perfect package holiday. Offering tours to Masada, the Dead Sea, Petra, and Jerusalem. They can also organize your accommodation and provide event information.

The Israeli Online Casino Industry

For gambling, Israel only allows the national lottery games and sports betting as both are monopolized by the Israeli government. However, in 2021, those living in Israel will see a change in legislation that allows player to access foreign online casinos such as 1xbet and JuicyVegas, that are accessible to Israeli’s. Oddly, this has seen a drive up in gameplay in the United States with American players making it in the news having won fortunes from online sites such as these.

The online market is a global pool of opportunity that allows players to win American dollars or Israeli Shekel.

Online gambling allows a freedom of accessibility and opportunity because the Internet cannot be governed over. Making the services safe are a number of licensing bodies like the UK Gambling Commission or the Malta Gaming Authority that safeguard players with regulatory standards that put trust and safety first.

Access to online casinos allows for players to even access live sports betting, the most popular being American sports such as Football, Basketball and MMA fighting.

Now, even though there is no direct link to an Israeli based company, the industry’s power comes from the movement of online traffic. Just like in America and other foreign countries, online interest is becoming an industry within itself. Amazon is an example of this, it’s a global infrastructure though it is American bases, its services are still akin to that of the country it services within and though it’s not Amazon which is the industry, but the service of goods and delivery. This is how online casinos that cater for Israeli players and those in the US are able to make it a new industrial movement.