Israel – A Technology Powerhouse

December 4, 2006

Chief Economist and Director of the Global Competitiveness Network Augusto Lopex-Claros wrote in the report: “Israel has become a world technology powerhouse, and this is beginning to have favorable demonstration effect on the rest of the economy…Israel has benefited from the development of culture of innovation, supported by first-class institutions of higher education and scientific research.”

Technological readiness saw the greatest improvement, which leaped 20 places to rank third in the world, while market efficiency increased by seven places. Israel ranked first for availability of scientists and engineers – an improvement of three places from the previous year – and second for venture capital availability. Israel ranked seventh in the world for innovation.

Additional improvements were in macroeconomic management, market efficiency, and various areas of infrastructure. Due to the large improvement in its overall ranking, Israel received a highlighted section in the report.

Ynetnews.com

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