Economic impact of Gaza crisis on Israeli business

Global Business

The war in Gaza has taken a significant economic toll on Israel. It hit tourism, which accounted for about seven percent of Israel’s economic activity, slowed down consumer spending as people were less inclined to leave home and dented industrial and manufacturing activity.

Economists currently estimate that the war will result in half a percent drop in Israel’s growth rate. Initial estimates by Israel’s Central Bureau of Statistics showed that in the second quarter of 2014 growth was 1.7 percent, compared to 2.8 percent in the first quarter of the year.

Ambassador Ido Aharoni joins the show. He is the Consul General of Israel.

Economic impact of Gaza crisis on Israeli business

Economic impact of Gaza crisis on Israeli business

The war in Gaza has taken a significant economic toll on Israel. It hit tourism, which accounted for about seven percent of Israel's economic activity, slowed down consumer spending as people were less inclined to leave home and dented industrial and manufacturing activity.