Israel Economy

By Anonymous

 

Economic Background 

Israel started off as a very poor country. It has very little agricultural and industrial production. The economy though has grown drastically since 1948. They live well although they have very few natural resources and a limited water supply. Israel depends on the U.S for economic well being. Most businesses are privately owned but a large amount are owned by the government. A influential organization of labor known as the General federation of labor owns a large number of businesses, farms and industries. Most of the people work in the service industries are employed by the government or by a government owned business. most of Israels income comes from tourism, for example restaurants and hotels.

Coronavirus impact on economy 

Israel started tracking peoples cell phones and letting them know that they had come in contact with a virus carrier and ordering them a quarantine with this they reached a very large rate of unemployment. They closed most businesses and they told people not to move from place to place as much. Palestinians stopped traveling to Israel which caused the economy to go down dramatically. Palestinians could not afford to get a high number of coronavirus cases and alt of them were getting infected in Israel. Israels economy depends largely on the Palestinians that would no longer travel to Israel 

Citations 

Reich, Bernard. "Israel." World Book Student, World Book, 2020,

www.worldbookonline.com/student/article?id=ar282960. Accessed 4 Nov. 2020.


"New Coronavirus Cases Surge In Israel As Employment Crisis Worsens." Morning Edition, 6 July 2020. Gale In Context: High School, https://link.gale.com/apps/doc/A628723530/SUIC?u=tel_s_tsla&sid=SUIC&xid=84444466. Accessed 5 Nov. 2020.



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