44 In terms of work referrals, corporate, commercial, and M&A activities dominate, reflecting the core areas of focus for Israeli firms, followed by capital markets and banking & finance. Despite satisfactory current referral rates, there is a clear appetite for increased collaboration, aligning with the reported growth in international work over recent years. Strategic business development plans are prevalent among Israeli firms, with emphasis placed on personal interactions, client updates, social media engagement, and event sponsorships. This strategic approach is further supported by an uptick in budget allocations for 2024, signaling a commitment to expanding international relationships. A range of approaches to outbound marketing is evident, highlighting differing levels of engagement across the Israeli legal sector. There is a notable disparity between firms: some are more conservative, particularly mid-sized and midto-large firms entering the field, conducting two delegations per year (30%), while established firms with extensive international business development invest more heavily and engage in over five delegations annually (35%). Israeli law firms demonstrate a proactive approach by closely monitoring international law firms with an IsraelDesk. This includes following them on LinkedIn (30%), reading client updates (22%), and holding regular calls (28%). This engagement strategy highlights their commitment to staying informed and connected. It also emphasizes that international firms effectively communicating with the Israeli market tend to be more visible. Ultimately, the resounding affirmation of the instrumental role of IsraelDesks. com (80%) underscores the value of platforms that facilitate and enhance cross-border legal collaborations, shaping a future where strategic relationships continue to drive forward the global legal landscape.
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