From the United States and France to Australia, Jewish communities around the globe are facing a disturbing surge in antisemitic incidents. These are unfolding alongside the rise of openly anti-Jewish political forces that are gaining unprecedented electoral support. The convergence of these trends suggests that Diaspora Jewish communities may not be able to postpone the inevitable much longer: a significant wave of aliyah (immigration to Israel) which could become a powerful economic catalyst and drive tectonic changes across the local landscape.
A dangerous trend
While public attention remains focused on Israel’s security situation and ongoing hostage negotiations, antisemitic sentiment is spreading at an alarming pace, placing Jewish communities in an increasingly vulnerable, isolated, and hostile environment.
The daily flow of incidents – many of which go unreported – indicates that we are not witnessing isolated acts but rather a dangerous new strain of antisemitism, emboldened and fueled by the war in Gaza.
A recent report by the Jewish People Policy Institute (JPPI) illustrates the extent of the crisis: Seventy-eight percent of Jewish university students across the US reported experiencing antisemitic harassment. These figures are deeply troubling and reveal that campuses – once bastions of tolerance – are becoming hostile spaces for Jewish students.
However, the problem extends far beyond the university setting.
Anti-Jewish forces are gaining power in public and political arenas, reviving the dangerous tropes of the “cruel, treacherous Jew” and attracting large voting blocs.
One example is Zohran Mamdani, a current front runner in the New York City mayoral race, who has publicly supported the BDS movement and is a vocal critic of Israel. If elected, his positions are likely to influence the social and political climate in a city that hosts the largest Jewish community in the Diaspora.
At the same time, support for Israel is weakening in political circles, raising fears of declining influence among Jewish communities. Meanwhile, France and other nations have declared or are preparing to recognize a Palestinian state, following arms embargoes and economic sanctions against Israel—actions that only intensify anti-Israel and antisemitic sentiment.
The harsh reality
This convergence of developments marks another troubling phase in the growing marginalization of Jewish communities around the world. We are now witnessing what may be the most dangerous wave of antisemitism since World War II. If history is any guide, these trends follow a grim pattern: rising hostility, property damage, and eventually physical violence. The first stage has already been crossed; we are now somewhere between the second and third.
A significant wave
All of this leads to one clear conclusion: Israel is on the verge of a mass immigration wave unlike any in its recent history, one that could bring dramatic changes to its economy—and especially to its real estate sector. Jewish communities under existential threat to their safety, identity, and freedoms will likely find themselves unable to resist the call to return to Israel.
To be sure, Israel is no stranger to absorbing mass aliyah.
From the arrival of Jews from Arab countries in the 1950s (~600,000), to the Ethiopian aliyah (~150,000), and the million-strong immigration wave from the former Soviet Union, Israel has repeatedly risen to the challenge. These previous waves significantly reshaped Israel’s economy, society, and real estate markets.
However, unlike past aliyah movements, often from distressed and underprivileged communities, this next wave will likely come from educated, professional, and affluent populations, bringing with them the potential for deep and positive economic impact.
Economic and social impacts
The expected influx of human capital includes professionals from the tech, science, medical, academic, and entrepreneurial sectors. Many will be able to integrate rapidly into the workforce, fill roles vacated due to recent emigration, and strengthen Israel’s hi-tech and knowledge-based industries.
Additionally, this population is expected to bring significant financial capital—funds that will be channeled into housing, commercial property, and real estate development, stimulating wide-reaching economic activity. On the demographic front, the arrival of a diverse and largely secular, liberal-minded group could help rebalance Israeli society, strengthen national resilience, and reduce internal polarization.
Historic opportunity
In conclusion, the global radicalization trend represents not only a geopolitical and humanitarian crisis, but also one of the most pivotal inflection points in Israel’s modern history.
The rising tide of antisemitism, broader and more dangerous than anything seen in recent decades, may also carry with it a historic opportunity: to strengthen the Israeli economy, reconnect the Jewish Diaspora with its national center, and build a stronger, more inclusive Israeli society that grows from challenge, not despite it.
The writer is a co-founder and chairman of Gsharim Fund.