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Israel is considered one of the most advanced countries in the Middle East in economic and industrial development. The country has been ranked highest in the region on the World Bank's Ease of Doing Business Index as well as in the World Economic Forum's Global Competitiveness Report. It has the second-largest number of startup companies in the world (after the United States) and the largest number of NASDAQ-listed companies outside North America. Israel has the 53rd-highest gross domestic product and 37th-highest gross domestic product per capita (at purchasing power parity) at US$170.3 billion and US$26,800, respectively. In 2007, Israel was invited to join the Organisation for Economic Co-operation and Development, which promotes cooperation between countries that adhere to democratic principles and operate free-market economies.

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