Study: Nefesh B'Nefesh Immigrants Have Added NIS 800m to Economy

Study: Nefesh B'Nefesh Immigrants Have Added NIS 800m to Economy By Raphael Ahren

Ha'aretz Immigrants who came to Israel with the assistance of Nefesh B'Nefesh have contributed a net sum of NIS 808 million to the Israeli economy, according to a study commissioned by the organization and released Monday. Since Nefesh B'Nefesh was founded in 2002, its 23,000 immigrants have generated government revenues of NIS 989 million, while they cost the state an estimated NIS 528 million, the study states. Thus, the net financial contribution of the group's immigrants to Israel's economy is NIS 461 million. The impact they've had on the local tourism industry - by attracting visitors to Israel - is thus far estimated at NIS 347 million. Taken together with their personal savings, "the overall positive financial impact of Nefesh B'Nefesh [immigrants] on the Israeli economy exceeds NIS 1 billion," according to the study - which is based on both the organization's data and a survey conducted by the auditing and financial advisory firm Deloitte Brightman Almagor Zohar. "These remarkable figures prove that, apart from the cultural and social contribution of Western [immigrants], and beyond the energy and Zionistic enthusiasm they bring, there is a tangible and considerable positive financial impact on Israel's economy," Nefesh B'Nefesh chairman Tony Gelbart said yesterday. The nonprofit organization is widely credited with attracting greater numbers of Western immigrants by easing bureaucratic and logistical hurdles and offering ongoing advice and support in finding jobs, schools, and medical help, among other areas. In September 2008, Nefesh B'Nefesh partnered with the Jewish Agency and took over the facilitation of North American aliyah. There are three main reasons for the financial influence of the group's immigrants, the study states. First is the immigrants' high level of education: three quarters arrived in Israel with at least a Bachelor's degree, a number "vastly higher" than the Israeli average. Secondly, these immigrants generally have a high net worth to begin with. According to the study, the average immigrant household arrives with assets totaling over $180,000. Lastly, more than 80 percent of immigrants said that an average of two people visited them during their first year in Israel, each for about two weeks, infusing the economy with an additional NIS 347 million. "I'm not at all surprised by the results," said U.S.-Israeli sociologist Chaim Waxman, adding that American immigrants' high socioeconomic status has been known for many years, long before NBN was founded. "Nefesh B'Nefesh's contribution to Israel's economy is making sure that immigrants are more satisfied with their absorption here and thus keeping them here longer.