Last Year, 30,000 to 40,000 High-Level Talents Expected to Emigrate
"If Military Risks Don't Decrease... Upper Class Will Leave"
Signs have emerged that the 'talent' driving Israel's high-tech industry is fleeing to the United States, Europe, and other regions. As the frontlines expanded to various parts of the Middle East following attacks by the Palestinian armed group Hamas, Israel's tech elites appear to have a bleak outlook on their country's future.
Foreign media, including the British daily The Guardian, reported on the 6th (local time) that Israeli elites are preparing for a 'quiet departure.' Following a year-long war with Hamas and the spread of conflicts with other armed terrorist organizations such as Hezbollah, Israel's economy is now burdened with a heavy yoke.
Particularly concerning is the lack of progress in the return of hostages abducted by Hamas. Aaron Chakanover, a Nobel Chemistry laureate and professor at Israel's Technion Institute of Technology, warned, "If the hostages are not returned, the fundamental social contract that has sustained Israeli society will collapse," adding, "This could bring catastrophic consequences to the entire nation."
In fact, The Guardian introduced the case of Noam, a father of three who ran a public relations consulting firm and a pharmacy, who decided to leave his hometown and migrate to Europe. The main reason, the report explained, is "seeking a better future for his children." Israeli media outlet Haaretz also estimated that 30,000 to 40,000 talents emigrated last year.
Although there are no official statistics on brain drain in Israel, the speed of talent outflow felt by the industry is said to be very rapid. Professor Chakanover stated, "We call this a 'quiet departure,'" adding, "They will not inform anyone until they board the plane."
Israeli military tanks and armored vehicles gathered near the Gaza Strip border area on the 29th of last month (local time). [Image source=AFP Yonhap News]
According to data from the Israel Central Bureau of Statistics, Israel's Gross Domestic Product (GDP) contracted by -0.3% in the second quarter of this year. The International Monetary Fund (IMF) initially projected Israel's economic growth rate for 2024 at 3.4% before the war, but after the war, it was sharply downgraded to 1.6%.
Despite repeated geopolitical tensions with Arab countries, Israel's economic revival was driven by the tech sectors such as semiconductors, healthcare, and IT. In particular, Israel attracted numerous big tech companies to the IT industry center 'Silicon Wadi,' centered around Haifa, the largest city in the north. If tech talents leave the country, overseas major corporations will have no reason to continue investing.
Regarding this, Professor Uri Ram of Ben-Gurion University of the Negev, specializing in social anthropology, warned the media, "If (Israel's) military risks do not decrease and the country continues to shift toward populist dictatorship, brain drain will worsen," adding, "In such a situation, the upper middle class will be even more inclined to send their children abroad."
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