Executive Search in Israel– 2015 Outlook
Natural Gas Bright Spot in Slowing Economy
Executive Search in Israel should be strong in the energy sector in 2015 against a general slowdown on the economic front.
Israel’s economy will grow by only 2.2% in 2014, after 3.2% growth in 2013 and 3% growth in 2012. GDP per capita will be about US$ 33,500 this year, at current prices. At fixed prices, GDP per capita will be 0.3% higher this year than last.
In 2015, we expect to have strong influence in the Israeli Energy Market after 2014 became the first year to be economically influenced by confirmation of huge reserves of natural gas in the Israeli sea. The discovery of the largest natural gas was made in the eastern Mediterranean Sea. Noble Energy, the largest operator in the region, began supplying natural gas to the Israeli market with its Israeli partners.
Continuing the strong pace of the past two years, Israeli high-tech exits – a start-up either being acquired by a bigger firm or going public on a stock exchange — totaled $6.94 billion in 2014 (99 exits), up 5 percent from $6.59 billion of 2013 (90 exits).
The Labor Market:
Unemployment dropped to 6.4%, while the labor participation rate remained at a record high of 64.2%, according to figures released by the Finance Ministry. Overall the labor market was stable during the year There is a growing demand for hi-tech experts especially: applications developers, cyber experts, SW R&D managers.
In 2014 more Israeli technical managers left and are working out of Israel.