Israel is a country in Western Asia, situated at the southeastern shore of the Mediterranean Sea. It is the only Jewish State in the world, surrounded by 5 Muslim countries in the north, east and south, and the Mediterranean Sea in the west. It contains geographically diverse features within its relatively small area. Israel’s financial center is Tel Aviv, while Jerusalem is both its designated capital and the most populous individual city under the country’s governmental administration.
The population of Israel was estimated in 2014 to be 8,146,300 people. 74.9% of Israelis are designated as Jewish. The country’s second largest group of citizens is denoted as Arabs, with 1,718,400 people. The great majority of Israeli Arabs are Muslims; the rest are Christians and Druze.
Israel also hosts a significant population of non-citizen foreign workers and asylum seekers from Africa and Asia.
Israel is a representative democracy, with a parliamentary system, proportional representation and universal suffrage. Israel is a developed country and an OECD member, with the 43rd-largest economy in the world by nominal gross domestic product as of 2012. The country has the highest standard of living in the Middle East and the fifth highest in Asia, and has the one of the highest life expectancies in the world.
Economy and Business
The country is ranked 3rd in the region and 38th worldwide on the World Bank’s Ease of Doing Business Index. It has the second-largest number of startup companies in the world (after the United States) and the largest number of NASDAQ-listed companies outside North America.
Israel stands for a lot of things in the global economy. It is one of the most vibrant and profitable countries in the world. Over the past few years as much of the world experienced massive bankruptcies and sluggishness of their economies in the wake of the global financial crisis, Israel’s economy kept producing! The success of the Israeli startup ecosystems can be attributed to a variety of factors including education, top R&D facilities, government encouragement and support, successful VC and Private Equity platforms an eclectic immigrant population.
There are over 250 active Research and Development centers in Israel. These centers are responsible for the creating exciting innovation. More then 50% of the country’s high-tech workforce working in those centers.
Microsoft, Intel, Cisco, Google, and many other technology multinationals have built their R&D centers in Israel. There are many attractive features for these companies, including staff cost, property and facilities costs, and of course the abundance of talent. Israel’s R&D Scene is ranked 1st internationally for total expenditure.
Israel was also ranked as the worldwide leader in its supply of skilled manpower.
Israel is a leading country in the development of solar energy, water conservation and geothermal energy, and its development of cutting-edge technologies in software, communications and the life sciences have evoked comparisons with Silicon Valley.
Workweek in Israel is between Sunday through Thursday (for a five-day workweek), or Friday (for a six-day workweek). In observance of Shabbat, in places where Friday is a workday and the majority of population is Jewish, Friday is a “short day”, usually lasting till 14:00 in the winter, or 16:00 in the summer.
Israel’s diverse culture stems from the diversity of the population: Jews from diaspora communities around the world have brought their cultural and religious traditions back with them, creating a melting pot of Jewish customs and beliefs. Israel is the only country in the world where life revolves around the Hebrew calendar. Work and school holidays are determined by the Jewish holidays, and the official day of rest is Saturday, the Jewish Sabbath. Israel’s substantial Arab minority has also left its imprint on Israeli culture in such spheres as architecture, music, and cuisine.
Israel has two official languages, Hebrew and Arabic. Hebrew is the primary language of the state and is spoken by the majority of the population, and Arabic is spoken by the Arab minority. Many Israelis communicate reasonably well in English, as many television programs are broadcast in this language and English is taught from the early grades in elementary school. As a country of immigrants, many languages can be heard on the streets. Due to mass immigration from the former Soviet Union and Ethiopia Russian and Amharic are widely spoken.
Israel has a school life expectancy of 15.5 years and a literacy rate of 97.1% according to the United Nations. Education is compulsory in Israel for children between the ages of 3 and 18.
In recent years, approximately half of all Israeli 12th graders earned a matriculation certificate. Israel also boasts a highly motivated and educated populace where in 2012, the country ranked third in the world in the number of academic degrees per capita (20 percent of the population).
With our extensive experience and expertise in contractor management, and assisting organizations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Israel, facilitating accounting services for local and foreign nationals, as well as migration and relocation services.
Accounting services include
Migration services :