How Rich Is ISRAEL

you are watching places every tuesday we bring you an insightful look into fascinating events from all around the world how rich is israel welcome to alux.com the place where future billionaires come to get inspired hello elixers and welcome back for another original video presented to you by our team here at aylax.com when you think of israel what comes to mind religious history rich culture historic locations full of abundance and luxury israel shows its richness to anyone walking down the streets of its cities the only jewish nation in the world has played a huge role in global international affairs and with such a strong economy notable landmarks and major cultural significance it has made its way into the hearts of millions of people israel ranks high among other countries when it comes to education life expectancy innovation research and development and happiness and it also offers the highest standard of living in the middle east we are going to take a deep dive into this magnificent nation and talk about the affluence of israel but first we'll go through the background to understand what led to its incredible wealth and power overview israel is known for its strong economy and important international relations but not everyone knows the history of israel and how this small mediterranean country became what it is today israel is a small and relatively young country yet it actually has a long very turbulent history the modern country of israel is the jewish state but it also is home to the jewish nation a nation with a very long history modern jews are descended from the israelites who lived on this land over 2000 years ago the israelites were conquered by others and exiled from their land more than once in their history the most recent exile was in 70 bce they spent two millennia longing to return to their homeland during world war one the zionists arose and began their quest to regain the jewish homeland the zionist movement is a nationalist movement that believes israel is and should be the homeland of the jews when the zionists arose the british governed the land which was then known as palestine the zionists pressured the british for recognition of palestine as an independent jewish state yet it was still some time before israel became a modern country finally israel became an independent country in 1948. this is why israel is a very old nation even though the modern country of israel is very young one of the reasons why israel has become so prosperous is the fact that in recent years it's become home to some of the most successful startups and entrepreneurial ventures which now means that billionaires are generated there another reason why this alluring country is so rich is the diamond market of tel aviv and massive gas fields in the eastern part of the mediterranean sea which generate billions of dollars each year all of these attract rich people from all around the world to invest in the markets of this country tourism is also a big piece of the income coming into the country each year but that's not the whole story let's see what brought this nation to where it is today how israel became rich israel wasn't always a perfect paradise for those with account balances in the millions earlier in the history of the country it was struggling especially back in the early 1980s life in israel could be compared to a modern-day third world country the economy was weak with an inflation rate of about 450 percent even reaching the mind-blowing high of 950 percent at one point israel was on the verge of bankruptcy and overall economic destruction investors backed away and a major banking crisis made it questionable whether israel could pay off their foreign debt in 1985 prominent israeli leaders gathered to solve the issue of the collapsing economy they came up with a deal that lowered government spending devalued the currency privatized many government-owned businesses and imposed price controls over a vast range of products and services this was the first step of recovering the economy after getting inflation under control foreign investors started to come back and invest in israel's growing market this enabled israel to get back on its feet and re-establish economic prosperity not long after 1985 the soviet union began to collapse and the majority of soviet jews chose to migrate to israel with jews coming from russia and other ex-soviet states there was an increase in the working population with high education levels unlike most of the native population that was relatively uneducated at the time with the government controlling the economy investors coming back and highly educated immigrants israel became a haven for startups and entrepreneurs as it had everything these groups needed a stable economy technological development and an educated populace and there are other reasons the rich are attracted to this state as well why are the rich drawn to israel israel has a lot of things to offer including grand landmarks of magnificent cultural significance a growing market of startups an ideal environment for investors looking for technological development and beautiful cities and countryside pulling in millions of tourists each year in 2019 with around 9 million people living in israel the country has more millionaires than at any other time period and that number will only keep on growing apart from the tourism industry and the diamond and gas markets one of the main reasons why rich people come to israel is to start businesses to generate more money israeli law imposes loose regulations and the government of israel is generous toward new businesses offering big grants so the decision to come to israel has more advantages than almost any country in the world when opening a business in israel business owners can get from 2 to 15 years of tax breaks it's every business owner's dream not to pay full taxes so it's obvious why israel is like a paradise for millionaires looking for a place to invest and have stable businesses and thereby hold on to their wealth for as long as possible business and technology in israel the state of the economy in israel is clear their economic power is rising and within a few years it might stand next to the usa and china two of the biggest economic forces in the world right now something that can't be overlooked when talking about the economy and the development of israel is technology high technology is one of the country's major economic sectors businesses are increasing their investments in technology more and more which is one of the reasons why the business community of israel is so well developed the country has also become a great place for startups especially high technology companies with businesses investing so much money in technology in 2019 israel was ranked as the world's fifth most innovative country to understand the bigger picture you need to know there are 140 scientists and technicians per 10 000 employees in israel which is one of the highest ratios in the world for comparison in the u.s there are 85 per 10 000 and japan is 83 for ten thousand and now we're ready to answer the question of the day how rich is israel the world bank states that israel is a high-income country its standard of living is significantly higher when compared to most other countries in the same region in fact its standard of living is compared to that of many other highly developed countries when defining the wealth of a country there are several factors that should be considered the first is definitely the gdp per capita which in 2018 was 41 164 dollars and this number has risen over time so it's safe to say that the number will keep on rising this is very close to other powerful economies of the world in 2018 japan's gdp per capita was 39 295 and the uk's gdp per capita was 42 442 which is just a little bit higher than israel's israel's overall gdp was 369.69 billion dollars in 2018. this represents the 32nd largest economy in the world these statistics are a reflection of the country's wealth but there's another thing that should be taken into account there are 2153 international billionaires in the world by the latest count in 2019 and 21 billionaires are israelis besides billionaires israel has a rough estimate of 105 000 multi-millionaires living and working there to put this into perspective tel aviv is ranked the number six city worldwide with the most millionaires per square mile ranking above cities such as new york london miami hong kong and even singapore which have been consistently included in such lists take a look at this chart where you can see more clearly israel's position compared to other best performing wealth markets the chart shows the years 2016 2016-2017 which is the latest information on the best performing wealth markets so far now let's take a look at some of the more visible signs of wealth in israel luxurious spots in israel it's not just the strong and developed economy and perfect climate for starting a business that draws millionaires to israel as stated above israel has a thriving tourism industry so naturally they wanted to improve that as well as to offer something special for those willing to pay for it you can get private and luxurious tours through israel that not many could afford including first class transportation to any destination you desire vip treatment in five-star hotels exquisite resorts in jerusalem and tel aviv among other cities lavish restaurants and custom tailored tours with expert private tour guides with some of these tours it's hard to put a price on them since first class vip custom tailored experiences are often so expensive that people would rather not give out such information from its astonishing beauty enchanting nightlife in the big cities breathtaking seaside views to the amazing technological development there's hardly any other place quite like israel conclusion israel is definitely a place for anyone who wants to increase their wealth by investing in businesses or even starting a new business the laws and policies are tempting for anyone who wants to get a tax break so it's no wonder more and more business-oriented millionaires are choosing israel as their go-to place also with debt that's diminishing as the years go by and the fantastic opportunities for business owners it looks like israel will be maintaining its allure for millionaires for many years to come and will only grow in terms of wealth year after year question now that we are wrapping this up we'd like to know what would influence your decision to go to israel as a millionaire all of the possibilities of opening a business the overall atmosphere or is there something else let us know in the comments and of course for sticking with us until the end here's your bonus israel has more museums per capita than any other country in the world with highly valuable and historical artifacts in more than 230 museums in this small country each visitor can easily choose the topic they're interested in and explore it from art and history to science and technology thank you for spending some time with us alexers make sure to subscribe so you never miss another video we also hand picked these videos for you to watch next as always the conversation continues on social media thanks again and we can't wait to have you back tomorrow

Channel: Alux.com

Views: 454,066

Keywords: Alux, Alux.com, Alux Youtube, luxury living, luxury lifestyle, fine living, new life, most expensive, billionaire lifestyle, alux video, israel, israel rich, israel rich people, israel millionaires, israel billionaires, israel economy, israel gdp, israel facts, israel history, israel finance, israel money, israel fortune, israel wealth, israel nation, israel ecomic growth, israel tech sector, israel industry, israel politics, israel life, israel people, tel aviv

Id: Eg0GQBUajVc

Length: 12min 28sec (748 seconds)

Published: Tue Oct 15 2019