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Saturday, February 10, 2007

Israel Hi-tech and economy flourishing.

A great improvement, but we have a long way to go. If California and Massachussetts are counted separately, Israel ranks third in the world. Aren't we curious about India?

A noteworthy comment: "Exacerbated security threats have enhanced technological innovations"
Arnold J. Toynbee built his view of history on the theory that great civilizations evolve by reponding to challenges.

Israel - 3rd in the world in high tech investments

Straight From The Jerusalem Boardroom #112, February 9, 2007

Yoram Ettinger

1. MORGAN STANLEY, Jan. 10, 2007: "Foreign capital flows to Israel surged from $3.2BN in 2002 to $11.6BN in 2005 and a record level of $23.4BN last year… The Shekel is fundamentally undervalued against the dollar and even more so against the euro… Despite geopolitical constraints and indeed the eruption of a guerilla war in Lebanon, the Israeli economy has continued to grow at a robust pace…Israel's economy has the strength to withstand a global slowdown… The Bank of Israel has opted for monetary easing and lowered short-term interest rates even below those in the US…Consumer price inflation declined from 3.8% in April to minus 0.3% in November… Budget deficit [was reduced] from 5.4% of GDP in 2003 to 0.9% last year… The current account surplus is not just a cyclical phenomenon. Israel's current account balance moved from a deficit of 0.5% of GDP in 2002 to a surplus of 2.9% in 2005 and about 6% [surplus] last year…" (Globes, Jan. 11, 2007).

2. ISRAEL RANKS 3RD IN THE WORLD ($1.4BN) – behind California ($12.4BN) and Massachusetts ($2.8BN), ahead of New York ($1.3BN) and Texas ($1.2BN) – in the level of 2006 high tech investments, according to ERNST YOUNG. The 2006 high tech investment in Israel increased 13% over 2005. According to Israel's IVC, 2006 totaled $1.6BN, compared with $1.3BN – 2005, $1.5BN – 2004, $1MN – 2003, $1.1BN – 2002, $2BN – 2001, $$3.1BN – 2000 and $1BN – 1999 (The Marker, Jan. 23).

3. ACCEL's MANAGING PARTNER, Joe Schoendorf: "Israel, China and the Silicon Valley are the focus of future technologies…Over 50% of the $400MN invested by us since 2001, have been invested in 20 Israeli companies…Exacerbated security threats have enhanced technological innovations" (The Marker, Jan. 25).


7. HP is hiring 150 software engineers to its Israeli R&D center – which is HP's largest R&D center in the world - consistent with its Vice President, Tom Hogan's, statement that "Israel is HP's winning card!" (Globes, Jan. 22).

8. Israel's EXPORTS grew by $3.7BN, while IMPORTS increased by $2.7BN. Exports to the US (excluding diamonds) - $9.6BN, Germany - $1.7BN, England - $1.4BN, Holland - $1.3BN, France - $1BN (The Marker, Jan. 18).

Read the rest here:

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