Strong Shekel Forces Israeli High-Tech Firms to Consider Hiring Abroad
The strengthening of the Israeli shekel is prompting high-tech companies to consider hiring employees outside of Israel to manage costs. Liad Agmon, a serial entrepreneur, highlighted the financial strain caused by the shekel's appreciation, which has increased operational expenses by 17%. This shift is significant as high-tech companies, which contribute substantially to Israel's GDP and tax revenues, traditionally relied on local talent. The current exchange rate challenges are leading companies to explore hiring in countries with lower salary expectations, such as Portugal. This trend could potentially impact Israel's reputation as a 'Startup Nation' and its future growth in the tech sector. 
