In the U.S. it takes six working days to start a business. In Israel: 34.
Israel is a remarkable country with big problems. The existential threats it faces from abroad are well known; only slightly less so, the troubled relations between the Jewish majority and the (mostly) Arab minority within its own population.
By contrast, most Americans know little about Israel’s economy, and most of what they think they know is shaped by the country’s vibrant high-tech sector. But Israel’s economy is more varied—and its overall performance more troubled—than glowing reports about the latest IT breakthroughs convey.
Put simply, the Israeli economy is an island of innovation in a sea of bureaucracy. “Start Up Nation” faces off against “Can’t Get Started Nation.” The result: The economy is functioning well below developed-world standards, and average families are paying the price.