Tel Aviv, the most cosmopolitan city in Israel is renowned for its business and financial centers where many international companies thrive. As a technology hub, Tel Aviv has become an outstanding destination for international investment. With a strong economy that rivals other big cities in the world, Tel Aviv offers plenty of benefits to both local and foreign entrepreneurs.
The city's booming economy is fueled by high-tech industries such as software, information technology, biotechnology and medical devices. This has created hundreds of jobs in those areas as well as providing direct investments from abroad. Further, the port of Haifa—just 800 kilometers away–shares Tel Aviv's geographic advantages allowing it to provide easy access to ports around Europe and Asia.
In terms of venture capital funding, Tel Aviv also ranks at the top with more than $1 billion invested in 2018 alone – resulting in a rise of 70% over 2017 figures. The venture capital industry here flourishes due to private investors being attracted by factors like great tax incentives on R&D expenses passed by Government Proposals.
Thanks to its wide selection of incubators specifically targeting new businesses , combined with massive foreign investment potentials giving innovative startups an excellent opportunity at success . Moreover , having easy access to enthusiastic consumers during beta phases allows these startups room to test products quickly - making them attractive candidates for expansion and acquisition without requiring much capital risk .
< p >Another area that continues to flatter the city’s economy particularly is tourism . Where 2017 's record breaking tourist revenue came close 1 Billion US dollars - surpassing all itinerary expectations . In addition there were also projected further growth rates annually which predicted more than 4 million tourists will travel through this modern financial hub , between 2019 - 2021