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==Economy== [[File:Azrieli_sarona_tower_and_mall.jpg|thumb|left|upright|[[Azrieli Sarona Tower]], the [[List of tallest buildings in Israel|tallest building in Israel]]]] Tel Aviv has been ranked as the twenty-fifth most important financial center in the world.<ref name="longfinance1">{{cite web |url=http://www.longfinance.net/images/GFCI18_23Sep2015.pdf |title=TheGlobal FinancialCentres Index 18 |author=Ami Sedghi |date=1 September 2015 |publisher=QFC |access-date=29 September 2015 |archive-date=27 February 2017 |archive-url=https://web.archive.org/web/20170227131528/http://www.longfinance.net/images/GFCI18_23Sep2015.pdf |url-status=dead}}</ref> In 1926, the country's first shopping arcade, Passage Pensak, was built there.<ref>{{cite news |url=http://www.haaretz.com/israel-news/culture/leisure/back-to-the-future-everything-s-up-to-date-in-tel-aviv-it-s-1935-1.372939 |title=Back to the Future / Everything's up to date in Tel Aviv. It's 1935 |work=Haaretz |access-date=25 May 2016 |archive-date=3 August 2016 |archive-url=https://web.archive.org/web/20160803112930/http://www.haaretz.com/israel-news/culture/leisure/back-to-the-future-everything-s-up-to-date-in-tel-aviv-it-s-1935-1.372939 |url-status=live }}</ref> By 1936, as tens of thousands of middle class [[aliyah|immigrants]] arrived from Europe, Tel Aviv was already the largest city in Palestine. A small port was built at the Yarkon estuary, and many cafes, clubs and cinemas opened. Herzl Street became a commercial thoroughfare at this time.<ref>{{cite web |last=Dvir |first=Noam |url=http://www.haaretz.com/culture/arts-leisure/back-to-the-future-everything-s-up-to-date-in-tel-aviv-it-s-1935-1.372939 |title=Back to the future: Everything's up to date in Tel Aviv. It's 1935 |work=Haaretz |date=13 July 2011 |access-date=7 November 2012 |archive-date=13 February 2012 |archive-url=https://web.archive.org/web/20120213180603/http://www.haaretz.com/culture/arts-leisure/back-to-the-future-everything-s-up-to-date-in-tel-aviv-it-s-1935-1.372939 |url-status=live }}</ref> Economic activities account for 17 percent of the GDP.<ref name="profile"/> In 2011, Tel Aviv had an unemployment rate of 4.4 percent.<ref>[http://www.globes.co.il/serveen/globes/docview.asp?did=1000728750&fid=1725 Unemployment rate at historic low in Q4 2011] {{Webarchive|url=https://web.archive.org/web/20131105233505/http://www.globes.co.il/serveen/globes/docview.asp?did=1000728750&fid=1725 |date=5 November 2013 }} ''Globes'', 28 February 12 14:00, Adrian Filut</ref> The city has been described as a "flourishing technological center" by ''[[Newsweek]]'' and a "miniature Los Angeles" by ''[[The Economist]]''.<ref name=autogenerated3>{{cite news |url=http://www.economist.com/cities/findStory.cfm?city_id=TLV&folder=Facts-Figures#Economic_profile |title=Tel Aviv City Guide |access-date=28 May 2007 |newspaper=[[The Economist]] |url-status=dead |archive-url=https://web.archive.org/web/20071011233537/http://economist.com/cities/findStory.cfm?city_id=TLV&folder=Facts-Figures |archive-date=11 October 2007}}</ref><ref name="Newsweek">{{cite magazine |last=Levy |first=Stephen |author2=Matt Rees |date=9 November 1998 |title=Focus on Technology: The Hot New Tech Cities |magazine=[[Newsweek]]}} <!-- (online: 1998-11-04) "Massive immigration from Russia in the early 1990s brought the country a flood of computer scientists with advanced theoretical knowledge." --></ref> In 1998, the city was described by Newsweek as one of the 10 most technologically influential cities in the world. Since then, high-tech industry in the Tel Aviv area has continued to develop.<ref name="Newsweek"/> The Tel Aviv metropolitan area (including [[satellite town|satellite cities]] such as [[Herzliya]] and [[Petah Tikva]]) is Israel's center of high-tech, sometimes referred to as [[Silicon Wadi]].<ref name="Newsweek"/><ref name="mercer">{{cite web |url=http://www.mercer.com/costofliving |title=Cost of living top 50 cities |publisher=[[Mercer (consulting firm)|Mercer Human Resource Consulting]] |access-date=25 July 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080725183008/http://www.mercer.com/costofliving |archive-date=25 July 2008}}</ref> In 2016, the [[Globalization and World Cities Study Group and Network]] (GaWC) at [[Loughborough University]] reissued an inventory of [[Global city|world cities]] based on their level of advanced producer services. Tel Aviv was ranked as an [[Global city|alpha- world city]].<ref name="lboro.ac.uk">{{cite web |title=GaWC โ The World According to GaWC 2016 |work=Globalization and World Cities Research Network |access-date=18 December 2017 |url=http://www.lboro.ac.uk/gawc/world2016t.html |archive-date=10 October 2013 |archive-url=https://web.archive.org/web/20131010004859/http://www.lboro.ac.uk/gawc/world2010t.html |url-status=live }}</ref> The [[Kiryat Atidim]] [[high tech]] zone opened in 1972 and the city has become a major world high tech hub. In December 2012, the city was ranked second on a list of top places to found a high tech [[startup company]], just behind [[Silicon Valley]].<ref>{{cite news |url=http://www.ynetnews.com/articles/0,7340,L-4315220,00.html |title=Tel Aviv named 2nd best high-tech center โ Israel Business, Ynetnews |work=Ynetnews |date=5 December 2012 |access-date=12 March 2013 |last1=Cohen |first1=Sagi |archive-date=15 March 2013 |archive-url=https://web.archive.org/web/20130315063702/http://www.ynetnews.com/articles/0,7340,L-4315220,00.html |url-status=live }}</ref> In 2013, Tel Aviv had more than 700 startup companies and research and development centers, and was ranked the second-most innovative city in the world, behind [[Medellรญn]] and ahead of [[New York City]].<ref>{{cite news |url=http://www.ynetnews.com/articles/0,7340,L-4352010,00.html |title=Tel Aviv ranks 2nd in innovation โ Israel Business, Ynetnews |work=Ynetnews |date=4 March 2013 |access-date=12 March 2013 |last1=Petersburg |first1=Ofer |archive-date=14 March 2013 |archive-url=https://web.archive.org/web/20130314190323/http://www.ynetnews.com/articles/0,7340,L-4352010,00.html |url-status=live }}</ref> According to [[Forbes]], nine of its fifteen Israeli-born billionaires live in Israel; four live in Tel Aviv and its suburbs.<ref>{{cite news |url=https://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_CountryOfCitizen_10.html |title=The World's Billionaires |work=Forbes |date=8 March 2007 |access-date=15 September 2017 |archive-date=28 January 2011 |archive-url=https://web.archive.org/web/20110128013635/http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_CountryOfCitizen_10.html |url-status=live }}</ref><ref>{{cite news |url=https://www.forbes.com/lists/2006/81/biz_06israel_Israels-Richest_land.html |title=Israel's 40 Richest |date=9 December 2006 |work=Forbes |last=Bin-Nun |first=Boaz |access-date=15 September 2017 |archive-date=7 July 2007 |archive-url=https://web.archive.org/web/20070707001059/http://www.forbes.com/lists/2006/81/biz_06israel_Israels-Richest_land.html |url-status=live }}</ref> The [[cost of living]] in Israel is high, with Tel Aviv being its most expensive city to live in. In 2021, Tel Aviv became the world's most expensive city to live in, according to the [[Economist Intelligence Unit]].<ref>{{cite web |title=Cost of Living Index 2021 |url=https://www.eiu.com/n/campaigns/worldwide-cost-of-living-2021/ |access-date=2022-01-24 |website=Economist Intelligence Unit |language=en-GB |archive-date=24 January 2022 |archive-url=https://web.archive.org/web/20220124174307/https://www.eiu.com/n/campaigns/worldwide-cost-of-living-2021/ |url-status=live }}</ref><ref name="BBCcol" /> Shopping malls in Tel Aviv include [[Dizengoff Center]], [[Ramat Aviv Mall]] and [[Azrieli Center|Azrieli Shopping Mall]] and markets such as Carmel Market, Ha'Tikva Market, and Bezalel Market. [[File:Tel_Aviv_Stock_Exchange_-_New_Building_Lobby_1.jpg|thumb|[[Tel Aviv Stock Exchange]]]] [[File:RothschildBoulevardTowersMay2014Cropped.jpg|thumb|right|Towers on [[Rothschild Boulevard]]]] Tel Aviv is home to the [[Tel Aviv Stock Exchange]] (TASE), Israel's only [[stock exchange]], which has reached record heights since the 1990s.<ref>{{cite news |url=http://www.businessweek.com/globalbiz/content/jun2007/gb20070621_251927.htm?chan=top+news_top+news+index_global+business |title=Israel: A Hotbed of...Investment |work=[[Bloomberg BusinessWeek]] |date=21 June 2007 |last=Sandler |first=Neal |access-date=22 June 2007 |archive-date=26 June 2007 |archive-url=https://web.archive.org/web/20070626072752/http://www.businessweek.com/globalbiz/content/jun2007/gb20070621_251927.htm?chan=top+news_top+news+index_global+business |url-status=dead }}</ref> The Tel Aviv Stock exchange has also gained attention for its resilience and ability to recover from war and disasters. For example, the Tel Aviv Stock Exchange was higher on the last day of both the 2006 Lebanon war and the 2009 Operation in Gaza than on the first day of fighting.<ref>{{cite book |last1=Senor |first1=Dan |last2=Singer |first2=Saul |title=Start Up Nation |year=2009 |publisher=Twelve |location=New York |pages=13โ14}}</ref> Many international [[venture capital|venture-capital]] firms, [[scientific method|scientific research]] institutes and high-tech companies are headquartered in the city. Industries in Tel Aviv include chemical processing, textile plants and food manufacturers.<ref name="Economist"/> Tel Aviv is ranked the 4th top global startup ecosystem hub according to the startup genome.<ref name="Wrobel-2024">{{Cite news |last=Wrobel |first=Sharon |date=10 June 2024 |title=Tel Aviv moves up to 4th place in annual ranking of global tech ecosystems |url=https://www.timesofisrael.com/tel-aviv-moves-up-to-4th-place-in-annual-ranking-of-global-tech-ecosystems/}}</ref><ref name="Genome">{{Cite web |last=Genome |first=Startup |title=Startup Genome |url=https://startupgenome.com/report/gser2024 |access-date=2024-06-13 |website=Startup Genome |language=en}}</ref> {{clear left}} ===Tourism and recreation=== Tel Aviv receives about 2.5 million international visitors annually, the fifth-most-visited city in the Middle East & Africa.<ref name="Goldman-2012"/><ref name="Sapty-2011"/> In 2010, ''[[Knight Frank]]''{{'}}s [[global city#World City Survey|world city survey]] ranked it 34th globally.<ref>{{cite web |url=http://www.knightfrank.com/wealthreport/2011/global-cities-survey/ |title=Results of the Knight Frank Global Cities Survey |url-status=dead |archive-url=https://web.archive.org/web/20121102042444/http://www.knightfrank.com/wealthreport/2011/global-cities-survey/ |archive-date=2 November 2012}}</ref> Tel Aviv has been named the third "hottest city for 2011" (behind only New York City and Tangier) by ''[[Lonely Planet]]'', third-best in the Middle East and Africa by [[Travel + Leisure|''Travel + Leisure magazine'']] (behind only Cape Town and Jerusalem), and the ninth-best [[Seaside resort|beach city]] in the world by ''[[National Geographic (magazine)|National Geographic]]''.<ref>{{cite web |url=http://www.jpost.com/Travel/TravelNews/Article.aspx?id=193541 |title=Tel Aviv ranked world's 3rd hottest city for 2011 |date=November 2010 |access-date=1 November 2010 |archive-date=21 October 2012 |archive-url=https://web.archive.org/web/20121021051440/http://www.jpost.com/Travel/TravelNews/Article.aspx?id=193541 |url-status=live }}</ref><ref>{{cite web |url=http://www.travelandleisure.com/worldsbest/2011/cities/africa-middle-east-cities/252 |title=World's Best Awards 2011 โ Africa and the Middle East |access-date=11 July 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110711144419/http://www.travelandleisure.com/worldsbest/2011/cities/africa-middle-east-cities/252 |archive-date=11 July 2011}}</ref><ref name="Top 10 Beach Cities">{{cite web |url=https://www.nationalgeographic.com/travel/article/beach-cities-photos |title=Top 10 Beach Cities |website=[[National Geographic Society]] |date=8 July 2010 |access-date=30 July 2010 |archive-date=21 July 2010 |archive-url=https://web.archive.org/web/20100721215624/http://travel.nationalgeographic.com/travel/top-10/beach-cities-photos/#beaches-tel-aviv-cities_22323_600x450.jpg |url-status=live }}</ref> Tel Aviv is consistently ranked as one of the top [[LGBT]] destinations in the world.<ref>[http://www.jpost.com/Headlines/Article.aspx?id=253129 Huldai proud of Tel Aviv winning best gay city of 2011] {{Webarchive|url=https://web.archive.org/web/20120120123836/http://www.jpost.com/Headlines/Article.aspx?id=253129 |date=20 January 2012 }} ''Jerusalem Post'', January 11, 2012.</ref><ref>{{cite news |url=https://www.salon.com/2012/01/24/tel_aviv_emerges_as_top_gay_tourist_destination/ |work=Salon |agency=Associated Press |title=Tel Aviv emerges as top gay tourist destination |date=24 January 2012 |access-date=1 December 2018 |archive-date=2 December 2018 |archive-url=https://web.archive.org/web/20181202024632/https://www.salon.com/2012/01/24/tel_aviv_emerges_as_top_gay_tourist_destination/ |url-status=live }}</ref> The city has also been ranked as one of the top 10 oceanfront cities.<ref>{{cite web |title=Photos: Top 10 Oceanfront Cities |website=National Geographic Travel |date=19 December 2014 |url=https://www.nationalgeographic.com/travel/article/photos-top-10-oceanfront-cities |access-date=30 December 2017 |archive-date=31 December 2017 |archive-url=https://web.archive.org/web/20171231103409/https://www.nationalgeographic.com/travel/photos-top-10-oceanfront-cities/ |url-status=live }}</ref> Tel Aviv is known as "the city that never sleeps" and a "party capital" due to its thriving [[nightlife]], young atmosphere and famous [[24/7|24-hour culture]].<ref name="Top 10 party towns">{{cite news |url=https://www.smh.com.au/travel/the-worlds-top-10-party-towns-20091118-im4q.html |title=The world's top 10 party towns |newspaper=[[The Sydney Morning Herald]] |date=19 November 2009 |access-date=20 February 2020 |archive-date=10 April 2010 |archive-url=https://web.archive.org/web/20100410045707/http://www.smh.com.au/travel/the-worlds-top-10-party-towns-20091118-im4q.html |url-status=dead}}</ref><ref name="lonelyplanet.com">{{cite web |url=http://www.lonelyplanet.com/usa/new-york-city/travel-tips-and-articles/76165 |title=Lonely Planet's top 10 cities for 2011 |access-date=31 October 2010 |archive-url=https://web.archive.org/web/20101103065648/http://www.lonelyplanet.com/usa/new-york-city/travel-tips-and-articles/76165 |archive-date=3 November 2010 |url-status=dead}}</ref><ref>{{cite news |url=https://www.thestar.com/travel/article/953921--5-best-irish-pubs-not-in-ireland |title=5 best Irish pubs not in Ireland |work=[[The Jerusalem Post|Toronto Star]] |date=15 March 2011 |first=Adrian |last=Brijbassi |access-date=15 September 2017 |archive-date=23 October 2012 |archive-url=https://web.archive.org/web/20121023234008/http://www.thestar.com/travel/article/953921--5-best-irish-pubs-not-in-ireland |url-status=live }}</ref> Tel Aviv has branches of some of the world's leading hotels, including the [[Crowne Plaza]], [[Sheraton Hotels and Resorts|Sheraton]], [[Dan Hotels|Dan]], [[Isrotel Tower|Isrotel]] and [[Hilton Hotels|Hilton]]. It is home to many museums, architectural and cultural sites, with city tours available in different languages.<ref>{{cite web |url=http://city-tour.co.il/ntextin.asp?psn=1109 |title=Tel Aviv bus tour |access-date=19 January 2008 |publisher=Tel Aviv City Tours |url-status=dead |archive-url=https://web.archive.org/web/20080828221824/http://city-tour.co.il/ntextin.asp?psn=1109 |archive-date=28 August 2008}}</ref> Apart from bus tours, architectural tours, [[Segway PT|Segway]] tours, and walking tours are also popular.<ref>{{cite web |url=http://www.telavivarchitecture.com |title=Tel Aviv architecture tour |access-date=19 January 2008 |website=TelAvivArchitecture.com |archive-url=https://web.archive.org/web/20080127163542/http://www.telavivarchitecture.com/ |archive-date=27 January 2008 |url-status=dead}}</ref><ref>{{cite web |url=http://www.segways.co.il/ |title=Tel Aviv segway tours |access-date=19 January 2008 |website=Segways.co.il |archive-date=19 December 2015 |archive-url=https://web.archive.org/web/20151219180315/http://www.segways.co.il/ |url-status=live }}</ref><ref>{{cite web |url=http://www.telaviv4fun.com/citywalks.html |title=Tel Aviv walking tours |access-date=19 January 2008 |website=TelAviv4Fun.com |archive-date=5 March 2016 |archive-url=https://web.archive.org/web/20160305005941/http://telaviv4fun.com/citywalks.html |url-status=dead}}</ref> Tel Aviv has 44 hotels with more than 6,500 rooms.<ref name="TA Stats"/> The [[w:he:ืจืฆืืขืช ืืืฃ ืชื ืืืื-ืืคื|beaches of Tel Aviv]] and the city's [[Tel Aviv Promenade|promenade]] play a major role in the city's cultural and touristic scene, often ranked as some of the best beaches in the world.<ref name="Top 10 Beach Cities"/> [[Yarkon Park]] is the most visited [[park|urban park]] in Israel, with 16 million visitors annually. Other parks within city limits include [[Charles Clore Park]], Independence Park, [[Meir Park, Tel Aviv|Meir Park]] and [[Dubnow Park]]. About 19% of the city land are green spaces.<ref>{{cite news |url=http://www.tel-aviv.gov.il/english/StatisticalOverview.htm |title=Tel Aviv Statistical Overview |work=Tel Aviv-Yafo Municipality |url-status=dead |archive-url=https://web.archive.org/web/20140913132730/http://www.tel-aviv.gov.il/english/StatisticalOverview.htm |archive-date=13 September 2014}}</ref> {{Wide image|Tel Aviv Panorama.jpg|1100px|{{centre|SkyView of Tel Aviv}}}}
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