Monitor Deloitte and IATI report on the contribution of the hi-tech industry to the Israeli society and economy has been saved
Monitor Deloitte and IATI report on the contribution of the hi-tech industry to the Israeli society and economy
For years the tech sector is considered to be the main growth driver of the Israeli economy. Still, until recently there was no report, analysis or study that fully measured its impact. Monitor Deloitte conducted a thorough study commissioned by IATI assessing the full impact of the tech sector on the Israeli economy and society.
The study is based on intensive research, dozens of interviews with market leaders and our Monitor Deloitte methodology. It provides a unique 360 degrees point of view of the sector value along the main threats for its future success.Based on our findings, the sector contributes 310-360 B ILS to the Israeli GDP (direct & indirect impact) and 50-60B ILS to the state tax income. Beyond its economic impact, the industry has a leading role in Israel’s resilience (including strengthening its global poisoning and diplomatic relationships) and increasing productivity and digitalization. In addition, it plays a key role in encouraging social mobility and integration of different groups of the Israeli society in the work labor force.
There are threats on the sector ability to maintain its position as a growth engine and fulfill its potential. Removing these threats & barriers is necessary in order to preserve the overall industry. Without doing so it may be difficult to maintain personnel, grow the next big companies and continue to be a global center for tech and innovation. The results of high-tech and therefore the contributions to the economy and wider society requires long-term business certainty and maintaining its international competitiveness.