Update on Israeli Economics
- Elisheva Wolf
- May 19
- 1 min read
The continuing war and hostage situation is taking its toll on the Israeli economy, as expenses soar, tourists stay away, construction and other projects are delayed, and men are repeatedly called up for reserve duties, having to leave behind businesses and families for months at a time.
2.76 million Israelis live underneath the poverty line
40% of Israeli households are heavily in debt
in 2024, there was a net decline of 4000 small and medium-sized businesses
(in 2023, the net decline even was at 19,000!), and the rate of bankruptcies for small and medium-sized businesses increased by 15% compared to 2023
since the beginning of 2025, restaurant reservations have dropped by 29% on average, reflecting the spending mood of the public
50 restaurants in the countries' center closed down at the end of 2024
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