Daylight saving time, which will begin on Thursday night, is expected to "save" the Israeli economy more than a quarter of a billion shekels ($68.6 million) by reducing energy usage in industries.
This is in addition to the roughly 50 million shekels (or $13.7 million) saved in household energy usage and the decrease in damages resulting from fewer road accidents during the extra daylight in the evening.
Daylight saving time will last for seven months this year. It will begin at 2 a.m. on Friday, March 29, and will end at 2 a.m. on Sunday morning , October 27.
Until a few years ago, daylight saving time lasted less than six months due to opposition from ultra-Orthodox parties, mainly because of increased difficulty in fasting on Yom Kippur. However, the government decided to extend daylight saving time due to significant savings resulting from the implementation of summer time, which brings an extra hour of daylight and increased economic activity.
Dr. Ron Tomer, president of the Manufacturers Association, told Ynet that "it is time to implement daylight saving time throughout the year, a move that will save the economy at least 400 million shekels ($109.8 million) for an entire year."
Tomer advocates for the year-round implementation of daylight saving time due to the significant economic and energy benefits for the economy. "There is no hope in maintaining the current situation, where there is 'summer time' and 'winter time,' he said. "The European Union recommended in 2019 to operate only in 'summer time' due to its numerous economic and energy benefits, and Israel is no different. If we choose to switch only to 'summer time,' we will all benefit from extra daylight hours, and the economy will save millions, which means a better quality of life for all of us."
The economic benefits of daylight saving time result from significant energy savings, currently amounting to only 90 million shekels ($24 million). However, if daylight saving time were implemented year-round, energy savings would reach approximately 155 million shekels ($42.5 million), an additional 65 million ($17.8 million).
In addition, transitioning to daylight saving time would improve workforce productivity and enhance the competitiveness of the economy, alongside an expected increase in sales in the leisure, entertainment and tourism sectors due to the extra daylight hours and leisure time. These are projected to contribute an additional 240 million shekels ($65.8 million) to the economy.
The extra daylight encourages cultural and familial leisure activities, particularly among children and adolescents. Additionally, extending daylight saving time may have a positive impact on human health – both physical and mental – as suggested by the Health Ministry.