Volume 67, Issue 8

The Israeli Economy through the eye of a tourist
by Richard Silverman

During winter break, I had the unique opportunity to visit Israel for 10 days.  Most of my time there was spent either learning at my alma mater, Yeshiva Derech Etz Chaim, or visiting my brother (conveniently, also at Derech Etz Chaim!).  I did, however, manage to get out a bit and see the beautiful country itself.  I would like to offer an evaluation of the economic situation in Israel at the time.

In Har Nof, where I spent most of my time, the situation did not seem worse than that which I had been used to.  Essentially all the stores I had frequented a few years ago were still open, and even a few new ones had popped up.  Specifically, last year, they decided to open a branch of the famous Israeli yogurt store chain, Fro-Yo, in the center of town.

At first, I thought to myself that this might be an early sign of a slowly recovering economy – for Har Nof itself, or perhaps just for Fro-Yo. After inquiry, however, I realized that this is actually further evidence of the deteriorating economic situation in Israel and above all Jerusalem. Few were willing to go to Ben Yehuda Street anymore to get their ice cream. It is just too dangerous for the yeshiva crowd. By and large, the tourist industry, which was once the country’s economic backbone, has now become an empty endeavor, only digging Israel into further financial demise.

After learning of the desolation in downtown Jerusalem, I decided I had to check it out myself: both to see what it was really like and to show solidarity with my homeland. After spending Friday morning in the Old City’s Jewish quarter (which was also noticeably empty – even though it’s consistently been one of, if not the safest places in Jerusalem), my brother and I decided to walk towards town to catch a cab. I thought we would have to walk no further than the Hilton hotel at the bottom of Jaffa Street to do so, but to my dismay, even after walking close to 2500 feet – there were still no cars in sight! I was amazed. The intifada had begun almost two years ago, and I remember when the shoppers on Jaffa Street began to diminish, but this was absolutely unimaginable. This was Friday, the busiest shopping day of the week in Jerusalem.  I could not find a person walking the streets (other than a member of our beloved IDF) until Kikar Tziyon (over half way up Jaffa Street)! Noticeably, many stores in the surrounding area were closed.

I did notice something interesting, however. I asked my brother about what looked to be a major construction project underway on the side of the road, and he pointed me in the direction of a sign that informed me as to the purpose of the project: Israel was in the midst of a multi-year plan to build a light-rail train system.  Upon completion, the train will traverse up and down Jaffa Street to eliminate the presence of cars and ease the walking of shoppers in the area. Why is Israel conducting a multi-million dollar project during a time of economic crisis? Aren’t they in a recession? Regrettably, it’s actually a convenient time to be taking on the task. With the lack of cars and tourists in the area, and shops being closed down left and right due to Palestinian terrorism, it wasn’t causing too much of a traffic hazard.

Overall, Israel’s present economic state is hardly encouraging. It’s probably in a dangerously low and bleak phase. However, we know that economic measurement alone will not be the deciding factors of Israel’s fate. As our tradition tells us, “This too shall pass.” Besides doing all we can to help the Israeli economy (and our continued pilgrimages and one-way trips are of the utmost importance), we rely on our faith in the Almighty to improve the situation in our homeland – its political stability, economic prosperity, and more importantly, the safety of its people.

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