Israel's contribution
As I'm sure you'll know, this month is the 60th anniversary of the foundation of the state of Israel. Oxford Economics has just produced a report on the ties between Israel and the UK, and it makes for fascinating reading. Among the more interesting facts:
Economic ties between the UK and Israel contributed a total of £1.7 billion to UK GDP in 2006, the most recent year for which figures can be calculated. This number takes no account of any indirect effects, such as additional purchases generated further down the supply chain, which would multiply the figure.I urge you to read the whole report, which shows just one strand of what Israel contributes to British prosperity.Israel is one of the UK’s top fifty trading partners and ranks 26th on a national per capita basis (ahead of the US, Japanese and South African per capita figures)Israelis own £8.5 billion of assets in the UK, while UK residents own £3.8 billion of assets in Israel.
The latest data show Israeli companies own £734 million of direct investments in the UK (or 4.2% of their total FDI). We estimate this investment employs 14,000 people and created £630 million in gross value added in the UK in 2005.