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Israel is struggling to recruit enough workers to its technology sector, a report showed on Sunday, creating a challenge for an industry seen as the country’s main potential driver of economic growth over the next decade, according to Reuters.
Start-Up Nation Central, which published the report with the Israel Innovation Authority, said that while the number of high-tech workers in Israel had grown over the past five years, their percentage of the labor force remained unchanged.
“It is becoming increasingly clear that the required growth will not be possible if the country’s supply of tech workers is inadequate,” said Eugene Kandel, head of Start-Up Nation Central.
“Tech companies are struggling to find tech professionals, with many already finding (them) overseas.”
The number of tech workers - who earn more than double the average wage - grew to 280,000 in 2017 from 240,000 in 2013 but represent only 8.0 per cent of the workforce, down from nearly 10 per cent in 2008.
This is surprising given that investment into high-tech has soared, with venture capital funding exceeding $5 billion in 2017 and closing in on $6.5 billion this year.
The number of multinationals operating development centres in Israel jumped to nearly 350 in 2016 from around 50 in 2000.
The sector accounts for about 45 per cent of Israel’s exports. But about 15,300 positions remain open.