Israel Matzav

Israel has 17th most developed economy, best central bank and workforce

In a survey of the World's developed economies, Israel ranked 17th out of 58 countries surveyed.

Israel ranks 17th out of 58 of the world's most economically developed nations, according to IMD's World Competitiveness Yearbook rankings. The Swiss research institute's 2010 report showed that Israel climbed seven steps up from its 2009 ranking.

The institute examines the level of developed nations' competitiveness based on some 330 different parameters.

The Federation of Israel's Chambers of Commerce, which represents IMD in the Jewish state, stressed that the leap in Israel's rank stems from its economy's stability and its ability to weather financial crises, as could be seen in the passing year, compared to other countries.

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Israel was also ranked first in several of the index's sub-categories. The Israeli economy was deemed the most durable in the face of crises, and came in first place in the rate of investments in research and development centers.

The Bank of Israel also received high marks and was ranked first among central banks for its efficient functioning, after receiving 8th place in 2009.

Despite the fear of a brain drain, Israel also leads in its supply of skilled manpower.

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However, there are also categories in which Israel is far behind other developed countries. With regards to participation in the workforce, Israel's low rates put it in 54th place. In the category of the rate of citizens which receive stipends, Israel ranked 56th place.

Israel, which is considered one of the most expensive countries, ranked 46th place in terms of the cost of living.

In the field of inflationary pressures, Israel dropped seven steps to the 50th place. Israel's sharpest decline came in the field of employment, as it plummeted 11 places to the 37th place.

The US ranked third; Singapore ranked first.

If there were any Arab or Muslim countries ranked, they aren't mentioned.

posted by Carl in Jerusalem @ 3:48 PM