Israeli CEO Says Country's Ability to Survive, Sometimes Thrive, During War Has Biblical Roots

JERUSALEM, Israel – Since October 7th, Israel has faced a seven-front war for survival, from Hezbollah on its northern border to Gaza in the south to the Houthis in Yemen on the tip of the Arabian Peninsula.

The war puts tremendous pressure on Israel's economy.

Yet, a leading economic expert contends that despite it all, Israel is not only surviving but, in some areas, thriving.

Entrepreneur Jonathan Medved, CEO of OurCrowd, told CBN News that fighting for survival is expensive. 

"All of this costs money, and there are also impacts on certain parts of the Israeli economy, such as the construction, agriculture (industries, where foreign workers –in particular Palestinians) – have played a large role there now (are) hard to get and there is a shortage of labor; and in particular, tourism is challenging because of the travel schedules and flights," Medved explained.

That tourism sector – one of Israel's most important economic engines – had boomed until after COVID shut down the country for nearly two years. But since October 7th, the war has brought tourism to a standstill.  

Yet one sector of Israel's economy has been booming. 

Medved stated, "And the good news is that the major industry here in Israel is – you know because we spend a lot of time talking about it – is high technology and, high-tech, or what we call "Startup Nation," is responsible for about 53 percent of all of Israel's exports, and represents today almost 20 percent of our  GDP gross domestic product."

This startup nation is booming. 

"The tech area is still very, very strong. We have amazing companies who lead the world in cybersecurity and artificial intelligence, in food technology, in defense technology, in the Cloud, in, alternative mobility, and energy," Medved said. "And, what's remarkable is that this year, already in 2024, in the midst of war, the investment dollars that are coming into the Israel tech scene have gone dramatically up, about 40%, from last year, the second half. So, and that's, by the way, leading the world in terms of an uptick. The U.S. is doing well. Israel is doing better."

Some in the business world might be surprised by Medved's explanation for the origin of Israel's success.

"Its roots are in the Bible, its roots are in prophecy," he told us. "And it's prophecy coming true when you realize that the Jewish people, the indigenous people of this land, have come home after 2000 years of wandering – have ingathered the exiles."

Medved believes this biblical mission drives Israel.

"We're a significant country, one of the strongest countries in the world in terms of our ability to defend ourselves, leading the world in many areas of technology – helping to cure cancer, helping to feed the planet – because we view our destiny and our mission is not just to survive," he noted. "Survival is critical, but we need to contribute to the world. We need to build the world. We need to help fix things. It's called tikkun olam." 

It's a resilience that survived the Holocaust.

"The dry bones from the prophecy of Ezekiel came up and we succeeded. But we didn't just succeed to survive. We've succeeded in building a beautiful country, a country which is not just fun and great food and beautiful beaches and an incredible infrastructure, but a country on the cutting edge of building the future, a country that believes in the future. Our birthrate is the highest birthrate of any country in the OECD (Organization for Economic Cooperation and Development.)" 

Despite the immediate threats of rockets, drones, and terror attacks, Medved takes a long view of Israel's destiny.   

"We are a people who has suffered a great deal over thousands of years, and yet we're still here. A lot of our enemies from thousands of years ago, they're gone. There's no memory of them. And if you want a little prediction, organizations like Hamas, whose whole purpose is to destroy the Jewish people.  Well, you know, I've got some advice for them. A lot of people have tried – better people than you – and they've all failed. You are going to fail, and there's going to be no memory of this kind of an organization in a thousand years from now."

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