Despite a year of war, Israel’s high-tech industry has been surprisingly stable, according to a report released by the Israel Innovation Authority on Monday.
Total investments in technology companies have remained robust, with nearly $9 billion raised from the onset of the war until mid-August 2024. This figure positions Israel as the third-largest recipient of global tech investments during this period, trailing only Silicon Valley and New York City, while surpassing other major cities such as London and Paris.
The high-tech industry makes up over 50% of Israel’s exports, accounts for one-fifth of the Gross Domestic Product (GDP), and generates one-quarter of all state revenues from employment taxes.
However, the report found that following a decade of exponential growth, key performance indicators in high-tech have stagnated for over two years. The total number of high-tech employees has plateaued at approximately 400,000, maintaining a steady share of about 11% of the overall workforce.