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Israel's Tech Sector Faces Shortage of Workers

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A help wanted sign.

Israel is struggling to recruit technology workers.

Credit: Bigstock

Israel is struggling to recruit enough workers to its technology sector, creating a challenge for an industry seen as the country's primary driver of economic growth over the next decade, according to a report by Start-Up Nation Central and the Israel Innovation Authority.

Although the number of high-tech workers in Israel has grown over the past five years, their percentage of the labor force remains unchanged.

This trend is surprising because investment in high tech in Israel has soared, with venture capital funding exceeding $5 billion in 2017, a level that could reach $6.5 billion this year.

In addition, the number of multinationals operating development centers in Israel rose to nearly 350 in 2016 from around 50 in 2000.

In order to find qualified workers, Israeli companies are opening development centers overseas, mainly in the Ukraine, the U.S., Russia, and India.

From Reuters
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