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{"id":13046,"date":"2023-12-12T12:16:28","date_gmt":"2023-12-12T12:16:28","guid":{"rendered":"https:\/\/www.lsd.hu\/op-ed-after-crisis-israels-economy-always-comes-back-stronger\/"},"modified":"2023-12-12T12:16:28","modified_gmt":"2023-12-12T12:16:28","slug":"op-ed-after-crisis-israels-economy-always-comes-back-stronger","status":"publish","type":"post","link":"https:\/\/www.lsd.hu\/op-ed-after-crisis-israels-economy-always-comes-back-stronger\/","title":{"rendered":"Op-ed: After crisis, Israel’s economy always comes back stronger"},"content":{"rendered":"


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Visitors enter the Tel Aviv Stock Exchange in Tel Aviv, Israel, on Tuesday, Nov. 7, 2023.<\/p>\n

Bloomberg | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Anchored in a culture of entrepreneurship and adaptability, Israel<\/a> is globally recognized as the world’s\u00a0“Startup Nation”<\/a> for its cross-sector contributions to modern research and technology. However, the horrific events of October 7 shifted our focus from innovation to self-defense. In just a few hours, the nation of Israel went from business as usual to national emergency and national mourning.<\/p>\n

Throughout this ongoing crisis, the resilience of Israel’s economy has once again taken center stage. Despite the challenging security situation, Israeli companies have stood strong in demonstrating business continuity and delivering world-class services to customers across the globe. This should be no surprise, as resilience has always been a key tenet of Israel’s long-term success, military or otherwise.<\/p>\n

Examples, unfortunately, abound: Whether during the global financial crisis of 2008-09, Operation Protective Edge in 2014 or other past challenges, Israel’s GDP, exports and foreign direct investments have always bounced back from crises stronger than ever. Most recently, the Covid-19 pandemic struck a terrible blow to Israel’s economy in the second quarter of 2020, reducing GDP by roughly 30% annualized. But Israel quickly rebounded, growing nearly 40% the following quarter and more than 8.5% the next year, well above the OECD average of 5.7%.\u00a0<\/p>\n

Before the tumultuous days of the Second Lebanon War, Warren Buffett<\/a> chose Israel as the destination for Berkshire Hathaway<\/a>