One year into war on Gaza, ‘Israel’ grapples with upper echelon exodus

The war on Gaza has not only significantly impacted the Israeli occupation’s economic standing, but Israelis are growing exhausted and thus are fleeing, according to The Telegraph, and this can be attributed to the potential of an all-out war, with Hezbollah’s operation ongoing undeterred despite the Israeli military’s claims otherwise.

In Tel Aviv, Bjørt Kragesteen and her Israeli partner report moving to Sweden, saying they are “completely exhausted”.

She told The Telegraph that other friends of theirs are looking to make the same move to “build a brighter future in Europe.”

A year into the war, economic repercussions are becoming evident, and many skilled professional settlers are leaving, complicating the attraction of new talent to the Israeli entity.

Nobel laureate Aaron Ciechanover warned of a “huge wave of departures,” noting that “most senior doctors are leaving” and warning that “as soon as 30,000 of these people leave, we won’t have a country here.”

Alon Eizenberg, a Bank of Israel consultant, believes the departures are especially troubling for “Israel’s” IT sector, which is critical to its economy. 

“Some brain drain and loss of human capital will be inevitable,” he pointed out.

From a budgetary standpoint, “Israel’s” GDP contracted by 5.7% in the last three months of 2023, reflecting the impact of Operation Al-Aqsa Flood.

The Yemeni Armed Forces’ attacks on Israeli-bound vessels in the Red Sea have also impacted shipments and the ability to procure items from abroad.

The tourism industry in the occupation has been struck severely, with Coface BDI estimating that up to 60,000 enterprises may collapse in 2024, particularly smaller ones grappling with manpower shortages.

Many workers have been summoned into reserve duty, resulting in a shortage of trained labor. Evacuations have also hurt the agriculture sector, resulting in higher food costs.

Furthermore, development has stopped due to the departure of 80,000 Palestinian laborers from the West Bank, raising worries about rising housing expenses for the general public.

A 38-year-old Israeli settlers reported feeling it was “very hard psychologically” to deal with inflation.

Itai Ater, from Tel Aviv University, expressed deep concern over the economic situation, highlighting the entity’s downgrading by credit rating agencies.

“Israel” has shifted from a budget surplus to a deficit of 8.3% of GDP in the past year, with £19 billion already spent on the aggression.

Ater described the government as “completely dysfunctional”, highlighting its inability to make necessary tough decisions and warning that any escalation could further harm the economy and further grow a sense of despair.