YNET NEWS: Global financial crisis prompts thousands of Israelis living abroad to return to Jewish state. Immigrant Absorption Ministry foresees 15,000 homecomings by end of 2009
The silver lining: The global financial crisis hitting world markets seems to have one favorable effect as far as Israel is concerned, as thousands of Israelis who have been living abroad for the past few years head back to their homeland.
According to the Immigrant Absorption Ministry, some 15,000 Israelis are expected to return to the Jewish state by the end of 2009.
The ministry launched a campaign encouraging Israelis living abroad to do just that in August of 2007, as part of the nation's 60th anniversary celebrations, offering a NIS 100 million (about $24 million) incentives package.
"The last few weeks have been crazy," Tali Naveh, who heads New York's Israel House, which tends to New York-based Israelis who wish to return, told Yedioth Ahronoth. "The phone has been ringing off the hook, and not just here, in all of out 10 centers on North America. People here have their American dream shattered."
Some 2,000 Israelis have returned home between August and mid October alone – a 50% rise from the same time last year. >>> Itamar Eichner | October 27, 2008
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