Netanyahu says Europe is falling behind as entrepreneurs leave for ‘open economies’ and Israel keeps energy costs lower

Israeli Prime Minister Benjamin Netanyahu said Europe was increasingly falling behind economically, arguing that entrepreneurs, businesspeople and companies were leaving for more business-friendly countries while Israel remained better positioned to attract investment.

“I see things in Israel that I don’t see in Europe, which is increasingly falling behind,” Netanyahu said, pointing to modern infrastructure and widespread construction. “I see cranes everywhere.”

Netanyahu attributed part of Europe’s economic difficulties to what he described as the rise of the political left, saying businesses were moving away from “closed economies” toward more open markets.

“People are fleeing closed economies for open economies like ours,” he said. “Europe is losing a valuable workforce, and Israel must become one of the leading destinations for those investors and entrepreneurs.”

Netanyahu also contrasted Israel’s energy costs with those abroad, saying electricity prices had risen sharply in many countries but had not increased on the same scale in Israel. “We understand economics here,” he said.

His comments come as European governments grapple with high energy costs and competitiveness concerns. EU leaders this month called for further measures to address soaring energy prices, while Israel’s government says domestic electricity prices remain among the lowest in developed economies.