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Israel Ranked 22nd Most Competitive Country by WEF

The World Economic Forum (WEF) in its annual survey of 142 countries rated Israel as the 22nd most competitive country in the world, 2 spots above its ranking in 2010.

The report states, “Israel’s main strengths remain its world-class capacity for innovation (6th), which rests on highly innovative businesses that benefit from the presence of the world’s best research institutions, geared toward the needs of the business sector. The excellent innovation capacity, which is additionally supported by the government’s public procurement policies, is reflected in the country’s high number of patents (4th). Its favorable financial environment (10th), particularly the solid availability of venture capital (2nd), has further contributed to making Israel an innovation powerhouse; these elements have become stronger in the course of the past year.”

Israel’s Investment Promotion Centre