Although Israel's economy has faced significant challenges due to the ongoing war and global economic shifts, the country’s high-tech sector remains proportionally larger than that of any other nation, according to Prof. Avi Simhon, head of the National Economic Council—a coordinating body that advises the Prime Minister on issues requiring comprehensive and methodical economic analysis.
Speaking at a recent ILTV and Afeka Academic College of Engineering event, Simhon told ILTV that “there is no other country that has so many people employed in the high tech sector as in Israel.”
He explained that the high-tech industry employs around 10% of Israel’s workforce and contributes approximately 15% of the country’s GDP.
“It provides a lot of tax revenue, lots of foreign currency, and also a kind of clout, because many countries look at us and say we want to be that way,” Simhon said.
Watch the full interview:
ILTV Breaking The Code - Prof. Avi Shimon
