Getty Images

While the global economy has suffered a severe meltdown since 2008, Israel has been kept largely shielded. The result is that this year’s migration to Israel by North American Jews will be the highest since 1973, according to Nefesh B’Nefesh, an organization that supports immigration to Israel from North America. While Israel has not escaped the economic crisis unscathed, it currently sports a significantly lower unemployment rate than the United States and its economy continues to grow thanks to its place as a world leader in technology.

The downfall of the economies in the Persian Gulf has also encouraged immigration to the West Bank, whose economy is having a record year of growth. As the bubble appears to have burst for the Dubai market, Israel will not be negatively affected as the Arab League’s boycott of Israel forbids Israeli companies from investing in what is now being called “Dubai debt.” The irony of the Arab League boycott is that it was designed to harm Israel’s economy by disallowing foreign investment.

New immigrants to Israel are making a huge impact. According to a study by Deloitte Information Technologies Israel Ltd., U.S. immigrants who came between 2002 and 2008 have directly injected over a quarter billion dollars to the Israeli economy.

We thank The Wall Street Journal for this story.

1 person likes this post.

Unlike