In the four year period of 2018 – 2021, Israeli firms owned by foreign entities brought a total of $17 billion into the country in salaries for Israelis alone. This is according to data released by Israel’s Central Bureau of Statistics. Israel Startup Nation depends on foreign investment to continue with all of its innovations and successes. In some cases, foreign investors take majority stakes in Israeli startups. And when an Israeli firm makes its exit, it is either through an IPO or a buyout by a foreign concern.
This is why foreign-owned firms are such a significant part of the local economy.
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The CBS reported that compensation for salaried work in foreign multinational companies with Israeli offices amounted to 64.6 billion Shekels ($17 billion) during that period of time, and was 12.7% of all proceeds in the country’s business sector.
The compensation for salaried work in foreign multinational companies from the high-tech industries was 40.9 billion ($11 billion) Shekels.
The average remuneration for a salary position in foreign multinational companies was 238,800 Shekels ($65,000) per year.
In high-tech companies, it was 329,500 Shekels ($90,000) per year.
The number of salaried jobs in foreign multinational companies was 270,367, 10.2% of all jobs in Israel’s business sector.
Out of all the foreign multinational companies, the share of companies operating in the high-tech field was 45.9% of the total salaried jobs and 63.3% of the total compensation for salaried work.
The CBS reported that the export of goods from Israel by foreign multinational companies in 2020 amounted to 79.2 billion Shekels ($22 billion) (an increase of 14.8% compared to 2019) and was 38.3% of Israel’s exports of goods.
The export of goods in high-tech companies amounted to 49.8 billion Shekels ($13.3 billion) (an increase of 24.7% compared to 2019) and was 62.9% of the total export of goods in Israeli companies under foreign control.
The main export of goods in 2020 was in the industrial, mining and quarrying sectors, and it amounted to at 74.9 billion Shekels ($20 billion). The export of goods in the computer, electronic and optical equipment manufacturing industry was 44.1 billion Shekels ($12 billion), and in the industry of manufacturing chemicals and their products, it was 8.5 billion Shekels ($2.4 billion).
