from the April 2014 issue

Israel's Economic Outlook

Even as the global economy continues to take investors on a wild ride, many economists predict that Israel's economy will continue to grow steadily in 2008, despite a crippled U.S. dollar. Much of this is due to the success of Israel's high-tech investments and development in recent decades.

Israel's success is also based on attitude - a unique combination of curiosity and chutzpah. During Larry Ellison's recent trip to Israel, he attributed Israel's success to the constant questioning of conventional wisdom.

"Businessmen are successful when they question the norms that conventional wisdom espouses," Ellison said. "That is where innovation comes from - finding errors in conventional wisdom. That is what my company is built upon and that is why I think Israel will continue to be innovative."

Israel's level of investment may not match Silicon Valley dollar for dollar, but Israel has outperformed the rest of the world in a global marketplace. Indeed, despite the fact that the Jewish state has been forced to expend much of its energy battling for its own security over the 60 years since it declared independence, Israel continues to demonstrate its strength as a formidable candidate.

Reprinted from the Israel High-Tech & Investment Report April 2014

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