Economy

The economy of Israel is a market economy. As of 2012, Israel ranks 16th among 187 nations on the UN's Human Development Index, which places it in the category of "Very Highly Developed".Israel's financial center is Tel Aviv. Jerusalem is the country's capital city.

The high concentration of high-tech industries in Israel, which are backed by a strong venture capital industry, gave it the nickname "Silicon Wadi", which is considered second in importance only to its Californian counterpart.