In January, Israel witnessed a significant surge in job vacancies, marking a notable shift in labor market dynamics since the onset of the conflict with Hamas. Data from the Central Bureau of Statistics revealed that job vacancies in January climbed to 126,367, a marked increase from December 2023's tally of 107,554. This upswing pushed the ratio of vacancies per 100 employed individuals to 4.11, up from 3.63 in December, surpassing the threshold of 4 for the first time since April of the previous year.

18 February 2024

Read more: Israel's Job Market Surges In January Amid Ongoing Conflict

The real estate sector in Israel faced unprecedented challenges in 2023, marked by a dramatic downturn in housing sales that the Ministry of Finance's chief economist has described as one of the most challenging years in recent history. The confluence of the war in Gaza and soaring interest rates created a perfect storm, severely impacting the real estate market and culminating in a year that saw the lowest sales figures in three decades.

14 February 2024

Read more: War & Inflation Cause Israel's Real Estate To Suffer Historic Slump

Eilat, a jewel in Israel's crown, located at the southernmost tip, is famed for its crystal-clear waters of the Gulf of Aqaba and the majestic mountains that frame its landscape. This city has traditionally been a pulsating heart of Israel's tourism sector, drawing visitors from around the globe to its vibrant coral reefs, sun-soaked beaches, and a plethora of leisure activities. However, the serene life and bustling tourist scene in Eilat faced an unprecedented challenge in October, following a devastating attack by Hamas militants on Israel, which resulted in the tragic loss of approximately 1,200 lives, as reported by the Israeli government. The aftermath saw a significant downturn in tourism, with vacationers leaving in droves and numerous airlines halting flights to the nation, though some international carriers have since resumed service.

04 February 2024

Read more: Gaza War Has Turned Eilat From A Tourist Haven Into A Refuge

The Bank of Israel's Financial Stability Report for the second half of 2023 delivers a pivotal assessment on the economic repercussions of the recent conflict and its impact on household and business financial health. Amidst these challenging times, the central bank underscores the significant step taken by Israeli banks in approving the deferral of repayments for nearly NIS 6 billion across more than 300,000 loans. This measure, the report highlights, was primarily aimed at cushioning households and businesses from immediate financial strain, with about 30% of these loans being crucial for those directly impacted by the conflict, including individuals evacuated from their homes, families of murder victims, or army reservists activated on emergency notices.

01 February 2024

Read more: Bank of Israel Cautions Citizens On New Debt Amid Economic Strain

As we entered October, Israel's economic prospects were bright, with the IMF projecting robust annual growth rates exceeding 3% for 2024-27, an enviable position among high-income economies. However, these forecasts were soon overshadowed by internal and external events that have significantly impacted the nation's economy.

23 January 2024

Read more: Israel's Economy: Navigating Conflict, Policy Shifts, And Trade Woes