The Jewish Agency reported a dramatic rise in recent months in the number of Jews seeking to make aliyah and the number of Israeli emigrants wishing to return due to the global economic crisis.
The JA and the Ministry of Immigrant Absorption have decided to use the financial situation to their advantage and launch a campaign to encourage aliyah.
As part of the campaign, Israeli delegations headed by Absorption Ministry Director-General Erez Halfon and Director-General of the Jewish Agency's Department for Aliyah and Absorption Eli Cohen, will be sent to the United States and Europe.
The delegations will hold fairs in central cities in the US, England, and Canada, in hopes of bringing tens of thousands of Jews back to Israel.
As an incentive to return, the new tax revolution in which tax relief will be granted to returning Israelis will be presented at the fairs.
And where will the olim and returning Israelis work? Despite the wave of layoffs, Israeli employers have reported available jobs in many fields such as engineering, economics, finance, accounting, police work, transportation work, sales and banking.
The first fair will open on Sunday in New York. Immigrant Absorption Minister Eli Aflalo predicts the project will be a success, saying that this year a record number of returning Israelis was recorded, along with a dramatic rise in the number of emigrating Israelis seeking to return.
Data revealed a 50% increase in the number of Israelis returning in recent months compared to the same period last year.
In addition, 9,000 Israelis abroad have reportedly announced their intention to return to Israel this coming year, all due to the economic crisis.
The Jewish Agency's Department for Aliyah and the Absorption Ministry director-general is also optimistic about the success of the project.
"Israel's relative stability can encourage potential olim to settle in Israel in order to ensure the futures of their children and build their homes here," said Cohen.
Director of the Tax Authority Yehuda Nasardishi said, "The tax reform places Israel at a relative advantage to other economies in the world as far as attracting human capital goes.
"This is an advantage that will likely be significantly expressed in this time of crisis and will help support the State's economic strength."