Thursday, June 26, 2008

Want to be a Millionaire? Move to Israel

The amazing 80’s group ABC once asked a question about financial planning. They asked, “Tell me! tell me! How to be a millionaire?” According to fresh data, the answer may just be to come live in Israel. There used to be a not so funny joke that went like this. ” How do you become a millionaire living in Israel? You come to Israel with $2 million!” Hah Hah! I told you it’s not such a funny joke.

According to the 12th annual World Wealth Report issued by Merrill Lynch and Capgemini, ”the number of the country’s millionaires grew by 13.6 percent in 2007, more than double the global millionaires’ growth rate of 6%, to a total of 8,200.”

That’s a pretty impressive growth rate, and the fact that it’s double the global growth rate speaks volumes as to the Israeli economic revival that has taken place over the last 5-6 years. The opportunities to create wealth in Israel abound, whether in hi-tech, real estate or even in industry (Click here to see a great video on Investing in Israel) . And those opportunities are not lost on foreign investors. It would be an interesting to see how many foreigners have become millionaires or multi-millionaires by investing in Israel. With the amount of foreign investment that has been flowing into Israel, I suspect that that number must be pretty high as well.

If you are an investor and looking at new frontiers to invest, you need to take a serious look at investing in the holy land. If you are thinking about moving to Israel with an organization like Nefesh B’Nefesh, you should feel confident that there are plenty of economic opportunities, and that the old joke about coming with $2 million no longer applies.
by Aaron Katsman & Zack Miller (Israel Newsletter)

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