Rift with Diaspora Jewry? Fake news

Study by Israel's Diaspora Affairs Ministry finds that Jews outside of Israel are only increasing their investment in Israel.

Nitsan Keidar,

Illustration
Illustration
iStock

A study recently commissioned by the Diaspora Affairs Ministry examined the economic significance of the relationship between the State of Israel and Diaspora Jewry.

The data indicate that the State of Israel’s annual income from Diaspora Jewry stands at 58 billion shekels, which are 6.35% of the GDP.

The study examined fields such as investments in high-tech, real estate, philanthropy, tourism and exports – all of which have an effect on Israeli economy.

It turned out that 63% of all foreign investments in Israel come from world Jewry, amounting to 4.59 billion shekels annually.

In the field of real estate, 90% of foreign residents who purchase residential real estate in Israel are Jews, constituting 6.28 billion shekels or 4% of the total direct investment in real estate in Israel.

In the field of exports, the study was based on the conservative assumption that 80% of the beverages and foods exported to Europe and the United States reach Jewish communities, a sum of about 1.8 billion shekels.

Donations and philanthropy entering the State of Israel are estimated annually at 8.04 billion shekels. 50% of all donations go towards education and research, followed by welfare organizations (13%), voluntary organizations (11%) and health organizations (7%).

As for the field of tourism, incoming Jewish tourism accounts for about 27% of the country's income from incoming tourism to Israel, which stands at 4.62 billion shekels a year.

Overall, the study found that Jews living outside of Israel are only increasing their involvement in investments, despite reports of a rift between Israel and the Jews of the Diaspora, specifically over the issue of mixed gender prayer at the Western Wall.


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