War on Gaza: What's the impact globally? | Counting the Cost
Counting the Cost
Israel’s war on Gaza: What’s the impact globally?
Bank of Israel cuts growth forecast while the World Bank warns the global economy is at a ‘dangerous juncture’.
Israel’s almost $500bn economy is one of the most developed in the Middle East in spite of its decades-long conflict with the Palestinians.
The country, known as the nation for start-ups, has low debt, a current account surplus and high foreign exchange reserves.
Now as Israel’s military offensive escalates, the war on Gaza is hitting the economy and putting its resilience to the test.
Meanwhile, the situation in Gaza and the occupied West Bank is much worse.
We zoom in on the war’s cost to the tourism industry in the Middle East, and we look at the risks for the global economy.