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Israel’s Economy is Booming – Housing market is only part of the story

People often ask me, “are the housing prices in Israel going to continue to climb?” One factor in the equation is the performance of the housing market compared to the general economic situation in the the country.

Here are some amazing facts and statistics about the economy I just received from my friend Yoram Ettinger.

Israel’s Economy 2010 Performance:

100,000 additional employees, compared with 8,000 in 2009.

4.5% GDP growth compared with 2.7% average by
other OECD members.

GDP per capita grew 2.7%, compared with a 1.1% decline
in 2009.

Unemployment declined to 6.7%, compared with OECD’s average of
8.3%, Canada’s 8.3%, USA’s 9.7% and Japan’s 5.1%.

Balance of payment surplus – $7BN. Budget deficit  will not exceed 4% of GDP.  An all time low,
less than 75% public debt to GDP ratio (Dec. 30, 2010).

According to the London Economist, Dec. 29, 2010: “Over the past two decades Israel
has been transformed from a semi-socialist backwater into a high-tech
superpower. Adjust for population and Israel leads the world in the number
of high-tech start-ups and the size of the venture-capital industry.

[Israel] was one of the last countries to enter recession and among the
earliest to exit… I
srael is also good at the sort of technological
mash-ups that produce exciting new industries… The country has long turned
adversity into a source of competitive advantage…”

Yoram is a political and business guru, popular lecturer and runs a facinating website. You can sign up for his reports at his website.

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