Israel is one of the world's technological leaders in water technology. In 2011, its water technology industry was worth around $2 billion a year with annual exports of products and services in the tens of millions of dollars. The ongoing shortage of water in the country has spurred innovation in water conservation techniques, and a substantial agricultural modernization, drip irrigation, was invented in Israel. Israel is also at the technological forefront of desalination and water recycling. The Ashkelon seawater reverse osmosis (SWRO) plant, the largest in the world, was voted 'Desalination Plant of the Year' in the Global Water Awards in 2006. Israel hosts an annual Water Technology Exhibition and Conference (WaTec) that attracts thousands of people from across the world. By 2014, Israel's desalination programs provided roughly 35% of Israel's drinking water and it is expected to supply 40% by 2015 and 70% by 2050. As of May 29, 2015 more than 50 percent of the water for Israeli households, agriculture and industry is artificially produced. As a result of innovations in reverse osmosis technology, Israel is set to become a net exporter of water in the coming years.