MAGAZINE ABOUT LIFE IN ISRAEL

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Israeli Unicorns Doubled in 2021

in Economy & Innovation

Israeli technologies are flying up, with 33 new Unicorns “born” this year alone, which means startups that are valued at over $1 billion. In 2020, there were only 20 Israeli unicorns. The three dominating sectors are fintech, cybertech, and tech infrastructure, which have led the way bringing in a total of $24.5 billion in the…

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Israel’s Borders Close Again

in Tourism & Nature

With less than 200 cases of new COVID variant Omicron worldwide, and a fourth case confirmed in Israel, the country has chosen to bar entry from tourists for at least the next two weeks despite just having reopened its borders.  An official statement released on Saturday says that vaccinated or recovered Israelis will be required…

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GDP and Inflation Rates Grow in Israel 

in Economy & Innovation

After the economic decline in 2020, Israel’s Finance Ministry has revised their forecasted GDP growth rate from 5.5% to 7.1% for 2021. In 2022, the forecast remains at 4.7%. While the economy bounces back after coronavirus, the Ministry of Finance confirms that the decline of last year will be offset this year.  They have found…

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Israel Budget Passes; First Time in 3 Years

in Economy & Innovation

For the first time in 3 years, Israel’s Parliament approved the 2021 budget, and within 24 hours, the 2022 budget was also approved. While the Knesset vote was close at 59-56, the approval confirms that there will not be early elections or another round of voting. Prime Minister Naftali Bennett, who led the process tweeted…

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New Solar Energy Field to Battle Climate Change 

in Economy & Innovation

In a bid for what may become the largest solar energy field in Israel, nine proposals from 11 companies have been submitted to the Finance and Energy Ministries. The new project comes on Israel’s immediate need to reduce greenhouse gases, and increase its renewable energy use, and Energy Minister Karin Elharrar says that “The Israeli…

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