Jerusalem Business and Economy

Jerusalem Business and Economy
ECONOMIC CHARACTERISTICS
The population of Jerusalem suffers from a relatively low economic status. Most residents are employed in public and community services; as wage earners their average income is well below the national average or the average for either Tel Aviv and Haifa, while the poverty level and population density are significantly higher. In effect, because of its social, demographic, and employment characteristics, Jerusalem, Israel's capital and largest city, is also one of the country's poorest cities.
The lack of modern industry is to a large degree a political issue: the Israeli state has decided in favour of protecting the uniqueness of the city.
Since 1967, business activity and investment in the city have been stimulated by the housing boom and the ever-increasing influx of pilgrims and tourists—except in periods of high political tension, as after September 2000.
Jerusalem has a higher incidence of poverty than the two other major cities. In 1996 as many as 21 percent of the city's families lived below the poverty line, including 40 percent of the city's children. In the 1990s, the number of families receiving public assistance rose steadily, reaching 32,600 households by 1996.

Jerusalem Business
Jerusalem Dress Code

Smart business attire is required at all times in Jerusalem.

Greeting Someone in Jerusalem

Ensure that proper appointments are made for meetings and note that business cards are widely used. Generally, business meetings are less formal than in Britain, but normal courtesies should be observed, such as shaking hands before and after the meeting. Bear in mind that some offices will be closed or only open for half a day on certain religious holidays. Note also that Israeli business custom includes a certain amount of exaggeration, where demands which seem unreasonable, are often made under the assumption that further negotiation will produce a reasonable compromise.

Jerusalem Business Hours and Banking

Business hours in Jerusalem are 08:30 to 18:00, Sunday to Thursday. On Fridays, businesses shut at 12:30 for Shabbat, which is Saturday.

Jerusalem Smoking

There is a ban on smoking on public transport in Jerusalem and the visitor should observe this even if the locals often do not. In business, it is advisable to refrain and take cues from the host