The Ministry of Absorption and the Jewish Agency for Israel expect more than 30,000 immigrants and returning Israelis to arrive in Israel in 2009. The high number is expected as a result of the economic crisis and the coming into force of the tax reform, under which new immigrants and returning Israelis will qualify for a tax break on overseas revenue for 10 years.
According to Ministry of Absorption director general Erez Halfon, and Jewish Agency director of Aliya department Eli Cohen, the global economic crisis has also been affecting Jews and expatriate Israelis, and recent months have seen a dramatic increase in the number of inquiries from Jews and Israelis interesting in immigrating or returning home.
With this in mind, the Ministry of Absorption and the Jewish Agency has launched a worldwide campaign to encourage expatriate Israelis and Jews to move to Israel. The campaign stresses Israel's relative stability and urges them to seize the economic opportunity being offered in the form of tax breaks and assistance in finding employment.
The highlight of the campaign has been a series of immigration and employment conferences held over the past two weeks in cities across North America and Europe, including New York, Boston, Washington DC, Chicago, Miami, San Francisco, Toronto, Montreal, London and Manchester. The final conference in the campaign will take place today in Paris.
The conferences were attended by thousands of Jews and Israelis who said they intended to move to Israel as early as next year. The Jewish Agency is expecting a significant increase in immigration from Ukraine, Argentina, and South Africa, all of which have been hit hard by the economic crisis. The Ministry of Absorption has reported a 50% increase in returning Israelis in recent months, and a further 9,000 Israelis who have already declared their intention to return home in 2009.
Minister of Absorption Eli Aflalo said, "The record number of Israelis that have returned this year, and the dramatic increase in the number of inquiries, proves that we now have a window of opportunity which we must not miss. This wave of immigration will help create jobs, new businesses, as well as an increase in consumption, fresh investment, and higher tax revenue, all of which will contribute directly to renewed economic growth."
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2008
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