Israel becomes best country for women entrepreneurs globally

The Mastercard Index of Women Entrepreneurs (MIWE) for 2020 has named Israel is the best country for women entrepreneurs globally.

After Israel, the US and Switzerland were ranked second and third, respectively, with last year’s leader, New Zealand, falling to fourth place followed by Poland, the UK, Canada, Sweden, Australia, and Spain in the ranking of 58 global economies.

The MIWE report said that with an ambition to double the number of female entrepreneurs within two years. The report also pointed out that Israeli women to be slightly more driven than men, by 2.3 percent on average, to pursue business opportunities to improve independence, economic self-reliance as well as to generate income.

The coronavirus pandemic has impacted businesses all over the world, and women have been disproportionately impacted, according to the MIWE. Some 87 percent of women business owners said that they have been impacted adversely, according to the report.

The index found that while the pandemic has presented significant challenges to women in business, it has also highlighted the successes of women leaders. Female prime ministers Jacinda Ardern of New Zealand and Sanna Marin of Finland, as well as German Chancellor Angela Merkel, have had visible and significant success leading during the pandemic.

These women have presided over some of the most successful efforts in containing coronavirus while instilling order, assurance, trust, and calm, the report stated.