Tel Aviv's economy

Looking at the skyline of Tel Aviv in 2006 from a distance, it is roughly estimated that the average monthly income of this city is 7290 NIS. In 2007, Tel Aviv ranked as the best city in the world with 104.

In the past decades, Tel Aviv's economy has experienced tremendous development. As the economic capital of Israel, this bustling city is described as a prosperous high-tech city (Newsweek) and a "mini Los Angeles" (Economist). There are many computer scientists living and working in Tel Aviv, and many of them immigrated from the former Soviet Union during the immigration tide from 65438 to the early 1990s. Tel Aviv is called one of the top ten most influential high-tech cities in the world by Newsweek. In fact, Tel Aviv metropolitan area (including suburbs such as Herzliya and Petativa) is highly concentrated with most of Israel's high-tech industries, also known as Silicon Wadi.

Historically, Tel Aviv has been striving for proper space for economic development. The city is located in the sand dune zone, which is not suitable for agriculture, and the coast is not suitable for opening a seaport like Haifa and Ashdod nearby. 1974, Intel established its first overseas R&D institution in Israel. In the 1968+0990' s, Tel Aviv finally enjoyed the reputation as a scientific and technological research center, which brought economic prosperity.

Tel Aviv has the only stock exchange in Israel-Tel Aviv Stock Exchange (TASE), which is developing rapidly, and there are many international headquarters of venture capital companies, scientific research institutions and high-tech companies. There are also some factories in Tel Aviv, which produce a large number of goods such as medicines, textiles, food and so on. Tourism is also very important to Tel Aviv's economy. People come to Tel Aviv from all over the world, not only because of Israel's numerous cultural relics, but also because of the legendary nightlife, atmosphere and architecture of the city.

The Research Group and Network on Globalization and World-class Cities (GaWC) of Loughborough University in the United Kingdom has established a list of world-class cities, in which Tel Aviv is listed in the category of "obvious signs of forming a world-class city", ranking the highest among cities in the Middle East, except Istanbul, which belongs to Europe. Tel Aviv is also listed as the most expensive city in the Middle East (Istanbul is listed as a European city).

According to Forbes, seven of the nine Israeli billionaires live in Israel, and at least four of them live in Tel Aviv or its suburbs. According to the data of Mercer Human Resource Consulting, by 2007, Tel Aviv was considered as the most expensive city in the Middle East, ranking seventh in the world, just behind new york and Dublin, and ahead of Rome and Vienna.