Young Israeli Girl

Israel is a developed country and a representative democracy with a parliamentary system and universal suffrage. The Prime Minister serves as head of government and the Knesset serves as Israel's legislative body. The economy, based on the nominal gross domestic product, was the 41st-largest in the world in 2008. Israel ranks highest among Middle Eastern countries on the UN Human Development Index, and it has one of the highest life expectancies in the world. Jerusalem is the country's capital, although it is not recognized internationally as such. Israel's main financial center is Tel Aviv, and its main industrial center is Haifa. In 2010, Israel joined the OECD.
Etymology
In 1948, the country was formally named Medinat Yisrael, or the State of Israel, referring to the ancient Israelites of the region, after other proposed historical and religious names including Eretz Israel ("the Land of Israel"), Zion, and Judea, were considered and rejected. In the early weeks of independence, the government chose the term "Israeli" to denote a citizen of Israel, with the formal announcement made by Minister of Foreign Affairs Moshe Sharett.