For companies that are willing and able to leverage new technology trends, there is a positive growth prognosis and increasing business opportunities. The continuing depreciation of the Euro against the Israeli Shekel also helps the export efforts of Bavarian companies.
In and around Tel Aviv and Haifa there has been a boom of young high-tech and software companies. Today, the city of Tel Aviv at the coast of the Mediterranean is known as one of the global high-tech centers. Also Bavarian companies could benefit from the Israeli know-how, the numerous universities and the interdisciplinary training facilities. A showcase for a success story is the American company Intel’s investment in the region. Since 1974, the company is active in R&D in Israel and employs more than 10,000 people there.
The Israeli biotech, pharmaceutical and life science industry is experiencing an interesting evolution, which opens up business opportunities for Bavarian companies. Israeli companies are global leaders in environmental and energy technology due to their geographical location and their natural gas resources in the Mediterranean. But Israel is not only a profitable market for Bavarian exporters. Bavarian industry also stands to benefit from imports of e.g. Israeli environmental, military and aerospace technology, since Israel is quite advanced technologically—much like Germany. This parity enables many exciting cooperation projects between the two countries’ universities and research institutions.