Israel: 912 Tech companies have set up in Europe, generating 24,000 jobs
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Denys Bédarride
Wednesday 9 March 2022 Last update on Wednesday, March 9, 2022 At 1:00 PM

An EU-funded report shows that at the end of 2021, 912 Israeli tech companies have chosen to establish themselves in Europe where they employ 24,000 people.

For 15% of them, it is a question of carrying out R&D operations there, but half of them are motivated by commercial and marketing reasons. The most attractive areas are the United Kingdom (405 companies), Germany (240), France (183 and 2,000 employees), BENELUX (163) and Italy (113).

The country’s ecosystem, boasting 7,000 start-ups, is also increasingly made up of large companies. It is estimated that 400 multinational companies employ 70,000 people there. In 2021, 122 external growth operations (mergers and acquisitions) were carried out by Israeli companies, this is 56% more than the previous year and further proof of the structuring of the sector and the impact of its 94 unicorns.

What are the trade relations between Israel and Europe?

According to EUROSTAT data on EU trade in services for the year 2020 (latest year available), French exports of services to Israel reached €536 million (this is within the average of the previous five years) and French imports from Israel were €784 million, thus showing a negative balance for France of €248 million. Germany also has a deficit balance (€476 million) with Israel, while the whole of the EU of 27 has a surplus of almost €2 billion with the Jewish state.

Source Embassy of France in Lebanon

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