Even before Israel achieved statehood in 1948, it was a jewel of the global diamond industry, and even amid intensifying global competition, the industry remains integral to the modern state. The country’s $28 billion in diamond exports in 2016 represented 13 percent of Israel’s total exports for the year, and the Israeli diamond industry employs an estimated 20,000 people, according to figures from the Israeli Diamond Exchange.
Since the first local diamond polishing plant opened in a suburb of Tel Aviv more than 80 years ago, Israelis have been committed to nurturing growth and innovation in the diamond sector, and the Israeli Diamond Exchange’s soaring headquarters near Tel Aviv are a fitting tribute to the illustrious industry’s history and continued ambitions. According to the Israel Diamond Industry portal, “In addition to its status as a leading polishing center, the Israeli Diamond Industry has developed into an international trade center through which rough and polished diamonds pass regularly and subsequently adorn a significant volume of the diamond jewelry sold all over the globe.”
It’s fitting, then, that hundreds of international buyers are set to gather for International Diamond Week in Israel (IDWI), which will be held February 10th to 12th, 2020, on the trading floor of the Israeli Diamond Exchange. A marquee event for diamond traders across the globe, IDWI is a boutique event and prime trading opportunity for diamond dealers, with low participation costs – unlike large, expensive trade shows.
IDWI 2020, themed “I Love Natural Diamonds”, is slated to host nearly 200 Israeli and international exhibitors, who will showcase polished diamonds and diamond jewelry, and the event has historically featured major new announcements surrounding industry developments. At IDWI 2018, the Israeli Diamond Exchange announced the launch of the Diamond Innovation Center, an incubator providing support for startups operating in the diamond sector. Among the participating Israeli companies are Sarine, whose innovative solutions include an AI-based diamond grading platform, and Inova, which aims to sell its augmented reality software to jewelers and diamond dealers so customers can shop for jewelry in an interactive way. The event will feature a series of TED-like talks that will address the timeliest issues of interest to the global diamond industry, such as marketing to millennials and the role of Instagram “influencers” in diamond demand.
Several Ministry of Economy and Industry initiatives aim to support the local industry through a variety of mechanisms, including access to funding, international marketing support, and support for travel to major conferences and events. The goal: Maintaining the local diamond industry’s world-renowned luster.
The Israeli Diamond Exchange invites professional diamond buyers from around the world to take part in IDWI 2020. For more information, please contact Ms. Micky Kattan firstname.lastname@example.org.
For further details about the Israeli diamond industry and other key fields, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.