Izzy Borovich sees Israel becoming "vacation state"

The El Al owner blames the financial media for Israelis going overseas for business.

Speaking at a recent panel on the financial media, Borovich said, "People talk about money and government, and forget that it is actually the private sector which is responsible for driving growth. Israel is slowly becoming a vacation state, where people live but do business overseas. One of the factors impacting this trend is the financial press.

"I think the financial press can make this country a better place to live in. We have a strong economy, and the media shouldn't be using us to improve ratings," added Borovich.

Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2008

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