Boasting a mere 22 thousand square kilometers, a population of 8.6 million inhabitants and an approximate GDP of $356 billion, the country of Israel, merely 70 years young, is an economic innovation powerhouse well beyond its years.
Part of the OECD since 2010, Israel has one of the best education and life satisfaction indexes in the world and one of the lowest rates of unemployment (3.8%).
The Israeli workforce is known for being as skilled and inventive, attracting many entrepreneurs to doing business in Israel. The country’s need to overcome various challenges helps generate advanced technologies and opportunities in many sectors:
from nanotechnology and water treatment to computer security and medical equipment, Israel has the most advanced procedures in the world.
Through targeted policies, the promotion of entrepreneurship and an approximate annual investment of 5% of GDP in R & D, Israel has become a giant of innovation with over seven thousand start-ups- more startups per capita than any other country in the world.
Israel has 12 Nobel prizes to its credit, eight of which were obtained only in the last decade.
First, the country invests 9.2% of GDP in education. Of every ten thousand Israelis, 140 are engineers, compared to 85 in the United States and 65 in Japan.