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<!-- Created: Mon May 13 16:47:26 UTC 2024 -->
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    <loc xlink:type="locator" xlink:label="dei_EntityAddressesAddressTypeAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressesAddressTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xml:lang="en-US">Entity Addresses, Address Type [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssets_lbl" xml:lang="en-US">Total current assets</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Total long-term assets</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl" xml:lang="en-US">Total current liabilities</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xml:lang="en-US">Total long-term liabilities</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US">Total equity attributable to Magic Software Enterprises Ltd shareholders</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Equity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl1" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Revenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Revenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US">Total revenues</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Revenue_lbl0" xml:lang="en-US">Total revenues</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProductsAndServicesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xml:lang="en-US">Products and services [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossProfit" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GrossProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GrossProfit_lbl" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherOperatingIncomeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherOperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Operating income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl0" xml:lang="en-US">Operating income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Income before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl0" xml:lang="en-US">Income before income taxes, as per the statement of operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl0" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract" xlink:href="mgic-20231231.xsd#mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Consolidated Statements of Comprehensive Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract" xlink:to="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US">Total other comprehensive income (loss), net of tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl0" xml:lang="en-US">Other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US">Total comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl0" xml:lang="en-US">Total comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl0" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US">Components of equity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash used in financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents at beginning of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl0" xml:lang="en-US">Cash and cash equivalents at end of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl1" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForReconcileProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl" xml:lang="en-US">Cash paid in conjunction with acquisitions, net of acquired cash total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GeneralAbstract" xlink:href="mgic-20231231.xsd#mgic_GeneralAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GeneralAbstract_lbl" xml:lang="en-US">General [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GeneralAbstract" xlink:to="mgic_GeneralAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract_lbl" xml:lang="en-US">Material Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract" xlink:to="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xml:lang="en-US">Classes of assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RangeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US">Range [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl" xml:lang="en-US">Intangible assets with indefinite useful life [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BusinessCombinationsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xml:lang="en-US">Business combinations [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotesAndOtherExplanatoryInformationAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotesAndOtherExplanatoryInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndOtherExplanatoryInformationAbstract_lbl" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndOtherExplanatoryInformationAbstract" xlink:to="ifrs-full_NotesAndOtherExplanatoryInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfCashAndCashEquivalentsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfCashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfCashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Schedule of Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfCashAndCashEquivalentsAbstract" xlink:to="mgic_ScheduleOfCashAndCashEquivalentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashAndCashEquivalents" xlink:to="ifrs-full_OtherCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:href="mgic-20231231.xsd#mgic_OtherAccountsReceivableAndPrepaidExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherAccountsReceivableAndPrepaidExpensesAbstract_lbl" xml:lang="en-US">Other Accounts Receivable And Prepaid Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:to="mgic_OtherAccountsReceivableAndPrepaidExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl0" xml:lang="en-US">Other accounts receivable and prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract_lbl" xml:lang="en-US">Fair Value Measurement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Total Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Total Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsAbstract_lbl" xml:lang="en-US">Schedule of Liabilities in Respect of the Business Combinations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsAbstract" xlink:to="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Opening balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl0" xml:lang="en-US">Closing balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfDeferredConsiderationInRespectOfTheBusinessCombinationsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfDeferredConsiderationInRespectOfTheBusinessCombinationsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfDeferredConsiderationInRespectOfTheBusinessCombinationsAbstract_lbl" xml:lang="en-US">Schedule of Deferred Consideration in Respect of the Business Combinations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfDeferredConsiderationInRespectOfTheBusinessCombinationsAbstract" xlink:to="mgic_ScheduleOfDeferredConsiderationInRespectOfTheBusinessCombinationsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredConsideration" xlink:href="mgic-20231231.xsd#mgic_DeferredConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_DeferredConsideration_lbl" xml:lang="en-US">Opening balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredConsideration" xlink:to="mgic_DeferredConsideration_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_DeferredConsideration_lbl0" xml:lang="en-US">Closing balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredConsideration" xlink:to="mgic_DeferredConsideration_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesInTheConsolidatedStatementsOfFinancialPositionAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfFinancialAssetsAndLiabilitiesInTheConsolidatedStatementsOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesInTheConsolidatedStatementsOfFinancialPositionAbstract_lbl" xml:lang="en-US">Schedule of Financial Assets and Liabilities in the Consolidated Statements of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfFinancialAssetsAndLiabilitiesInTheConsolidatedStatementsOfFinancialPositionAbstract" xlink:to="mgic_ScheduleOfFinancialAssetsAndLiabilitiesInTheConsolidatedStatementsOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PropertyPlantAndEquipmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US">Property, Plants and Equipment, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:to="ifrs-full_PropertyPlantAndEquipmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PropertyPlantAndEquipmentsGross" xlink:href="mgic-20231231.xsd#mgic_PropertyPlantAndEquipmentsGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_PropertyPlantAndEquipmentsGross_lbl" xml:lang="en-US">Beginning balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantAndEquipmentsGross" xlink:to="mgic_PropertyPlantAndEquipmentsGross_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_PropertyPlantAndEquipmentsGross_lbl0" xml:lang="en-US">Ending balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantAndEquipmentsGross" xlink:to="mgic_PropertyPlantAndEquipmentsGross_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Depreciated cost at December 31, 2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl0" xml:lang="en-US">Depreciated cost at December 31, 2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl1" xml:lang="en-US">Property, plants and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IntangibleAssetsAndGoodwillAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillAbstract_lbl" xml:lang="en-US">Intangible Assets, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost" xlink:href="mgic-20231231.xsd#mgic_GoodwillandOtherIntangibleAssetCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl" xml:lang="en-US">Beginning balance, Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl0" xml:lang="en-US">Ending balance, Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairment" xlink:href="mgic-20231231.xsd#mgic_AccumulatedAmortizationAndImpairment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl" xml:lang="en-US">Beginning balance, Accumulated amortization and impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl0" xml:lang="en-US">Ending balance, Accumulated amortization and impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xml:lang="en-US">Classes of intangible assets other than goodwill [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssets" xlink:href="mgic-20231231.xsd#mgic_IntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_IntangibleAssets_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssets" xlink:to="mgic_IntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IntangibleAssetsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl0" xml:lang="en-US">Intangible assets, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl1" xml:lang="en-US">Future amortization expense of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MaturityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MaturityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US">Maturity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ChangesInGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ChangesInGoodwillAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInGoodwillAbstract_lbl" xml:lang="en-US">Goodwill [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInGoodwillAbstract" xlink:to="ifrs-full_ChangesInGoodwillAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Starting balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0" xml:lang="en-US">Ending balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsAbstract" xlink:href="mgic-20231231.xsd#mgic_ShortTermDebtsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsAbstract_lbl" xml:lang="en-US">Short Term Debts [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsAbstract" xlink:to="mgic_ShortTermDebtsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTypeAxis" xlink:href="mgic-20231231.xsd#mgic_ShortTermDebtsTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShortTermDebtsTypeAxis_lbl" xml:lang="en-US">ShortTermDebtsType [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTypeAxis" xlink:to="mgic_ShortTermDebtsTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedExpensesAndOtherAccountsPayableAbstract" xlink:href="mgic-20231231.xsd#mgic_AccruedExpensesAndOtherAccountsPayableAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedExpensesAndOtherAccountsPayableAbstract_lbl" xml:lang="en-US">Accrued Expenses and Other Accounts Payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedExpensesAndOtherAccountsPayableAbstract" xlink:to="mgic_AccruedExpensesAndOtherAccountsPayableAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsAbstract" xlink:href="mgic-20231231.xsd#mgic_LongTermDebtsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsAbstract_lbl" xml:lang="en-US">Long Term Debts [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsAbstract" xlink:to="mgic_LongTermDebtsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtAxis" xlink:href="mgic-20231231.xsd#mgic_LongTermDebtAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermDebtAxis_lbl" xml:lang="en-US">Long Term Debt [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtAxis" xlink:to="mgic_LongTermDebtAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl" xml:lang="en-US">Related Parties Transactions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PresentationOfLeasesForLesseeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PresentationOfLeasesForLesseeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PresentationOfLeasesForLesseeAbstract_lbl" xml:lang="en-US">Leases [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PresentationOfLeasesForLesseeAbstract" xlink:to="ifrs-full_PresentationOfLeasesForLesseeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAtBeginnings" xlink:href="mgic-20231231.xsd#mgic_CostAtBeginnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_CostAtBeginnings_lbl" xml:lang="en-US">Balance as of beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtBeginnings" xlink:to="mgic_CostAtBeginnings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostsAtEnding" xlink:href="mgic-20231231.xsd#mgic_CostsAtEnding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_CostsAtEnding_lbl" xml:lang="en-US">Balance as of ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostsAtEnding" xlink:to="mgic_CostsAtEnding_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xml:lang="en-US">Types of share-based payment arrangements [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfOutstandingShareOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfOutstandingShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xml:lang="en-US">Number of options, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl0" xml:lang="en-US">Number of options, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:href="mgic-20231231.xsd#mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl" xml:lang="en-US">Aggregate intrinsic value, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl0" xml:lang="en-US">Aggregate intrinsic value, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForSharebasedPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl0" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl1" xml:lang="en-US">Share-based payment expense related to employee stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract_lbl" xml:lang="en-US">Employee Benefit Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:to="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfDefinedBenefitPlansAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfDefinedBenefitPlansAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfDefinedBenefitPlansAbstract_lbl" xml:lang="en-US">Schedule of Defined Benefit Plans [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfDefinedBenefitPlansAbstract" xlink:to="mgic_ScheduleOfDefinedBenefitPlansAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xml:lang="en-US">Net defined benefit liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl0" xml:lang="en-US">Employee benefit liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CapitalCommitmentsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CapitalCommitmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CapitalCommitmentsAbstract_lbl" xml:lang="en-US">Commitments and Contingencies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CapitalCommitmentsAbstract" xlink:to="ifrs-full_CapitalCommitmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossAbstract_lbl" xml:lang="en-US">Schedule of Accumulated Other Comprehensive Incomeloss [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossAbstract" xlink:to="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US">Total other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xml:lang="en-US">Income Tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule of Presentation Net Deferred Tax Assets and Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NetDeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NetDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en-US">Net deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl0" xml:lang="en-US">Net liabilities, excluding $1,548 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl1" xml:lang="en-US">Net liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIncomeTaxAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfIncomeTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfIncomeTaxAbstract_lbl" xml:lang="en-US">Schedule of Income Tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfIncomeTaxAbstract" xlink:to="mgic_ScheduleOfIncomeTaxAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxExpensesBenefit" xlink:href="mgic-20231231.xsd#mgic_IncomeTaxExpensesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_IncomeTaxExpensesBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfTheoreticalTaxExpenseAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfTheoreticalTaxExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfTheoreticalTaxExpenseAbstract_lbl" xml:lang="en-US">Schedule of Theoretical Tax Expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfTheoreticalTaxExpenseAbstract" xlink:to="mgic_ScheduleOfTheoreticalTaxExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueAbstract_lbl" xml:lang="en-US">Revenue Recognition [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueAbstract_lbl0" xml:lang="en-US">Revenues:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromContractsWithCustomers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromContractsWithCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsOfIncomeDataAbstract" xlink:href="mgic-20231231.xsd#mgic_SelectedStatementsOfIncomeDataAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsOfIncomeDataAbstract_lbl" xml:lang="en-US">Selected Statements of Income Data [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsOfIncomeDataAbstract" xlink:to="mgic_SelectedStatementsOfIncomeDataAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ResearchAndDevelopmentExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ResearchAndDevelopmentExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl0" xml:lang="en-US">Research and development expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SalesAndMarketingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl" xml:lang="en-US">Total selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl0" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_lbl" xml:lang="en-US">Attribution of expenses by nature to their function [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:to="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Total general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceCosts" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinanceCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinanceCosts_lbl" xml:lang="en-US">Total financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_FinanceCosts_lbl0" xml:lang="en-US">Financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfOperatingSegmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsAbstract_lbl" xml:lang="en-US">Operating Segments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SegmentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SegmentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentsAxis_lbl" xml:lang="en-US">Segments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GeographicalAreasAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US">Geographical areas [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract_lbl" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentRegistrationStatement" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentShellCompanyReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCountry" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_ContactPersonnelName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelName_lbl" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelEmailAddress" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_ContactPersonnelEmailAddress"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelEmailAddress_lbl" xml:lang="en-US">Contact Personnel Email Address</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelEmailAddress" xlink:to="dei_ContactPersonnelEmailAddress_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_IcfrAuditorAttestationFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_IcfrAuditorAttestationFlag_lbl" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_IcfrAuditorAttestationFlag" xlink:to="dei_IcfrAuditorAttestationFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFinStmtErrorCorrectionFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag_lbl" xml:lang="en-US">Document Financial Statement Error Correction [Flag]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFinStmtErrorCorrectionFlag" xlink:to="dei_DocumentFinStmtErrorCorrectionFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAccountingStandard" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorFirmId"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorFirmId_lbl" xml:lang="en-US">Auditor Firm ID</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorFirmId" xlink:to="dei_AuditorFirmId_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorName_lbl" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorLocation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorLocation_lbl" xml:lang="en-US">Auditor Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl0" xml:lang="en-US">Assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract" xlink:to="mgic_UnlabeledAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xml:lang="en-US">CURRENT ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US">Short-term bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xml:lang="en-US">Trade receivables (net of allowance for credit losses of $5,416 and $7,066 as of December 31, 2022 and 2023, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl0" xml:lang="en-US">Trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_TradeReceivablesNetOfAllowance" xlink:href="mgic-20231231.xsd#mgic_TradeReceivablesNetOfAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl" xml:lang="en-US">Trade receivables, net of allowance (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TradeReceivablesNetOfAllowance" xlink:to="mgic_TradeReceivablesNetOfAllowance_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherCurrentNonfinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en-US">Unbilled receivables and contract assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract0" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract0_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract0" xlink:to="mgic_UnlabeledAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xml:lang="en-US">LONG-TERM ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl0" xml:lang="en-US">Deferred taxes assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssets_lbl" xml:lang="en-US">Right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en-US">Other long-term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Goodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Goodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract1" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract1_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract1" xlink:to="mgic_UnlabeledAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US">LIABILITIES AND EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract2" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract2_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract2" xlink:to="mgic_UnlabeledAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xml:lang="en-US">CURRENT LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShorttermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xml:lang="en-US">Short term debts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl" xml:lang="en-US">Accrued expenses and other accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xml:lang="en-US">Current maturities of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:href="mgic-20231231.xsd#mgic_PutOptionsOfNoncontrollingInterestsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl" xml:lang="en-US">Put options for non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:href="mgic-20231231.xsd#mgic_LiabilityInRespectOfBusinessCombinationsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredRevenuesAndCustomerAdvancesCurrent" xlink:href="mgic-20231231.xsd#mgic_DeferredRevenuesAndCustomerAdvancesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredRevenuesAndCustomerAdvancesCurrent_lbl" xml:lang="en-US">Deferred revenues and customer advances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenuesAndCustomerAdvancesCurrent" xlink:to="mgic_DeferredRevenuesAndCustomerAdvancesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract3" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract3_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract3" xlink:to="mgic_UnlabeledAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract4" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract4_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract4" xlink:to="mgic_UnlabeledAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xml:lang="en-US">LONG-TERM LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xml:lang="en-US">Long-term lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:href="mgic-20231231.xsd#mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl0" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:href="mgic-20231231.xsd#mgic_PutOptionsOfNoncontrollingInterestsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl" xml:lang="en-US">Put options for non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract5" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract5"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract5_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract5" xlink:to="mgic_UnlabeledAbstract5_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract6" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract6"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract6_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract6" xlink:to="mgic_UnlabeledAbstract6_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsAndContingencies1" xlink:href="mgic-20231231.xsd#mgic_CommitmentsAndContingencies1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CommitmentsAndContingencies1_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsAndContingencies1" xlink:to="mgic_CommitmentsAndContingencies1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract7" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract7"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract7_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract7" xlink:to="mgic_UnlabeledAbstract7_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:href="mgic-20231231.xsd#mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl" xml:lang="en-US">Magic Software Enterprises Ltd shareholders&#8217; equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:to="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareCapitalAbstract" xlink:href="mgic-20231231.xsd#mgic_ShareCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShareCapitalAbstract_lbl" xml:lang="en-US">Share capital:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareCapitalAbstract" xlink:to="mgic_ShareCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IssuedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US">Ordinary shares of NIS 1 par value - Authorized: 50,000,000 shares at, December 31, 2022 and 2023; Issued and Outstanding: 49,093,055 and 49,099,305 shares as of December 31, 2022 and 2023, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesParValue" xlink:href="mgic-20231231.xsd#mgic_OrdinarySharesParValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesParValue_lbl" xml:lang="en-US">Ordinary shares, par value (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesParValue" xlink:to="mgic_OrdinarySharesParValue_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesAuthorized" xlink:href="mgic-20231231.xsd#mgic_OrdinarySharesSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesAuthorized_lbl" xml:lang="en-US">Ordinary shares, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesAuthorized" xlink:to="mgic_OrdinarySharesSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesIssued" xlink:href="mgic-20231231.xsd#mgic_OrdinarySharesSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesIssued_lbl" xml:lang="en-US">Ordinary shares, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesOutstanding" xlink:href="mgic-20231231.xsd#mgic_OrdinarySharesSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl" xml:lang="en-US">Ordinary shares, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalPaidinCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionalPaidinCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarnings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RetainedEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract8" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract8"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract8_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract8" xlink:to="mgic_UnlabeledAbstract8_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract9" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract9"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract9_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract9" xlink:to="mgic_UnlabeledAbstract9_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract10" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract10"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract10_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract10" xlink:to="mgic_UnlabeledAbstract10_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromRenderingOfServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl" xml:lang="en-US">Software services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServices" xlink:to="ifrs-full_RevenueFromRenderingOfServices_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl" xml:lang="en-US">Maintenance and technical support</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl" xml:lang="en-US">Consulting services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract11" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract11"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract11_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract11" xlink:to="mgic_UnlabeledAbstract11_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract12" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract12"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract12_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract12" xlink:to="mgic_UnlabeledAbstract12_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostofRevenueAbstract" xlink:href="mgic-20231231.xsd#mgic_CostofRevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostofRevenueAbstract_lbl" xml:lang="en-US">Cost of revenues:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostofRevenueAbstract" xlink:to="mgic_CostofRevenueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CostOfSales" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CostOfSales"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CostOfSales_lbl" xml:lang="en-US">Total cost of revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract13" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract13"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract13_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract13" xlink:to="mgic_UnlabeledAbstract13_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract14" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract14"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract14_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract14" xlink:to="mgic_UnlabeledAbstract14_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract15" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract15"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract15_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract15" xlink:to="mgic_UnlabeledAbstract15_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract16" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract16"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract16_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract16" xlink:to="mgic_UnlabeledAbstract16_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract17" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract17"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract17_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract17" xlink:to="mgic_UnlabeledAbstract17_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinanceIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceIncome_lbl" xml:lang="en-US">Financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinanceIncome_lbl0" xml:lang="en-US">Total financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:href="mgic-20231231.xsd#mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl" xml:lang="en-US">Increase in valuation of consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Group&#8217;s share of earnings (losses) of a company accounted for at equity, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract18" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract18"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract18_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract18" xlink:to="mgic_UnlabeledAbstract18_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract19" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract19"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract19_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract19" xlink:to="mgic_UnlabeledAbstract19_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract20" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract20"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract20_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract20" xlink:to="mgic_UnlabeledAbstract20_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract21" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract21"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract21_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract21" xlink:to="mgic_UnlabeledAbstract21_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US">Attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0" xml:lang="en-US">Total comprehensive income attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US">Equity holders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract22" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract22"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract22_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract22" xlink:to="mgic_UnlabeledAbstract22_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract" xlink:href="mgic-20231231.xsd#mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract_lbl" xml:lang="en-US">Net earnings per share attributable to equity holders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract" xlink:to="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract23" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract23"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract23_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract23" xlink:to="mgic_UnlabeledAbstract23_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">Basic earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl0" xml:lang="en-US">Basic and diluted net earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl" xml:lang="en-US">Diluted earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract24" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract24"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract24_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract24" xlink:to="mgic_UnlabeledAbstract24_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Other comprehensive income (loss) net of tax effect:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract25" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract25"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract25_lbl" xml:lang="en-US"></label>
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    <loc xlink:type="locator" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract" xlink:href="mgic-20231231.xsd#mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl" xml:lang="en-US">Amounts that will be or that have been reclassified to profit or loss when specific conditions are met:</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Foreign exchange differences on translation of foreign operations</label>
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    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract27" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract27"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract27_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract27" xlink:to="mgic_UnlabeledAbstract27_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract28" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract28"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract28_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract28" xlink:to="mgic_UnlabeledAbstract28_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract29" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract29"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract29_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract29" xlink:to="mgic_UnlabeledAbstract29_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Equity holders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract30" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract30"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract30_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract30" xlink:to="mgic_UnlabeledAbstract30_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract31" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract31"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract31_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract31" xlink:to="mgic_UnlabeledAbstract31_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract32" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract32"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract32_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract32" xlink:to="mgic_UnlabeledAbstract32_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract33" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract33"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract33_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract33" xlink:to="mgic_UnlabeledAbstract33_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US">Exercise of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:to="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ExerciseOfOptions" xlink:href="mgic-20231231.xsd#mgic_ExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExerciseOfOptions_lbl" xml:lang="en-US">Exercise of options (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOfOptions" xlink:to="mgic_ExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:to="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:href="mgic-20231231.xsd#mgic_SettlementOfPutOptionsOverNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl" xml:lang="en-US">Settlement of put options over non-controlling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:to="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract34" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract34"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract34_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract34" xlink:to="mgic_UnlabeledAbstract34_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract35" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract35"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract35_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract35" xlink:to="mgic_UnlabeledAbstract35_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract36" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract36"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract36_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract36" xlink:to="mgic_UnlabeledAbstract36_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract37" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract37"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract37_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract37" xlink:to="mgic_UnlabeledAbstract37_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract38" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract38"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract38_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract38" xlink:to="mgic_UnlabeledAbstract38_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract39" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract39"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract39_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract39" xlink:to="mgic_UnlabeledAbstract39_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract40" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract40"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract40_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract40" xlink:to="mgic_UnlabeledAbstract40_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract41" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract41"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract41_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract41" xlink:to="mgic_UnlabeledAbstract41_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:href="mgic-20231231.xsd#mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl" xml:lang="en-US">Non-controlling interests arising from initially consolidated companies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:to="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:href="mgic-20231231.xsd#mgic_AcquisitionOfRedeemableNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl" xml:lang="en-US">Acquisition of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:to="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract42" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract42"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract42_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract42" xlink:to="mgic_UnlabeledAbstract42_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract43" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract43"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract43_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract43" xlink:to="mgic_UnlabeledAbstract43_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract44" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract44"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract44_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract44" xlink:to="mgic_UnlabeledAbstract44_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:href="mgic-20231231.xsd#mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl" xml:lang="en-US">Changes in value of short-term and long-term loans from banks and others and deposits, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:to="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:href="mgic-20231231.xsd#mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl" xml:lang="en-US">Amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract45" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract45"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract45_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract45" xlink:to="mgic_UnlabeledAbstract45_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WorkingCapitalAbstract" xlink:href="mgic-20231231.xsd#mgic_WorkingCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WorkingCapitalAbstract_lbl" xml:lang="en-US">Working capital adjustments:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAbstract" xlink:to="mgic_WorkingCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xml:lang="en-US">Trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xml:lang="en-US">Accrued expenses and other accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable_lbl" xml:lang="en-US">Other current and long-term accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable" xlink:to="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues_lbl" xml:lang="en-US">Deferred revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues" xlink:to="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract46" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract46"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract46_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract46" xlink:to="mgic_UnlabeledAbstract46_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract47" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract47"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract47_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract47" xlink:to="mgic_UnlabeledAbstract47_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Proceeds from sale of property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Redemption of marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:to="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract48" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract48"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract48_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract48" xlink:to="mgic_UnlabeledAbstract48_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract49" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract49"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract49_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract49" xlink:to="mgic_UnlabeledAbstract49_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xml:lang="en-US">Change in short-term and long-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract50" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract50"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract50_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract50" xlink:to="mgic_UnlabeledAbstract50_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract51" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract51"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract51_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract51" xlink:to="mgic_UnlabeledAbstract51_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract52" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract52"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract52_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract52" xlink:to="mgic_UnlabeledAbstract52_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xml:lang="en-US">Exercise of employees&#8217; stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Receipt of long-term loans from banks and others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract53" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract53"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract53_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract53" xlink:to="mgic_UnlabeledAbstract53_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract54" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract54"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract54_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract54" xlink:to="mgic_UnlabeledAbstract54_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract55" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract55"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract55_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract55" xlink:to="mgic_UnlabeledAbstract55_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract56" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract56"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract56_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract56" xlink:to="mgic_UnlabeledAbstract56_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixAAbstract" xlink:href="mgic-20231231.xsd#mgic_AppendixAAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixAAbstract_lbl" xml:lang="en-US">Appendix A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixAAbstract" xlink:to="mgic_AppendixAAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract" xlink:href="mgic-20231231.xsd#mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl" xml:lang="en-US">Cash paid in conjunction with acquisitions, net of acquired cash:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract" xlink:to="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl" xml:lang="en-US">Fair value of assets acquired and liabilities assumed at the date of acquisition:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetAssetsExcludingAcquiredCash" xlink:href="mgic-20231231.xsd#mgic_NetAssetsExcludingAcquiredCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl" xml:lang="en-US">Net assets, excluding acquired cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingAcquiredCash" xlink:to="mgic_NetAssetsExcludingAcquiredCash_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ChangesInGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ChangesInGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ChangesInGoodwill_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInGoodwill" xlink:to="ifrs-full_ChangesInGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:href="mgic-20231231.xsd#mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl" xml:lang="en-US">Deferred and contingent liabilities assumed in current year business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:to="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:href="mgic-20231231.xsd#mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:to="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract57" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract57"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract57_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract57" xlink:to="mgic_UnlabeledAbstract57_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixBAbstract" xlink:href="mgic-20231231.xsd#mgic_AppendixBAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixBAbstract_lbl" xml:lang="en-US">Appendix B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixBAbstract" xlink:to="mgic_AppendixBAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" xlink:href="mgic-20231231.xsd#mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl" xml:lang="en-US">Supplementary information on investing and financing activities not involving cash flows:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" xlink:to="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract58" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract58"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract58_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract58" xlink:to="mgic_UnlabeledAbstract58_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NoncashActivitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_NoncashActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NoncashActivitiesAbstract_lbl" xml:lang="en-US">Non-cash activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NoncashActivitiesAbstract" xlink:to="mgic_NoncashActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract59" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract59"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract59_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract59" xlink:to="mgic_UnlabeledAbstract59_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl" xml:lang="en-US">Right-of-use asset recognized with corresponding lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus" xlink:to="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixCAbstract" xlink:href="mgic-20231231.xsd#mgic_AppendixCAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixCAbstract_lbl" xml:lang="en-US">Appendix C</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixCAbstract" xlink:to="mgic_AppendixCAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract_lbl" xml:lang="en-US">Supplemental disclosure of cash flow activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract" xlink:to="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract60" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract60"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract60_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract60" xlink:to="mgic_UnlabeledAbstract60_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidreceivedNetAbstract" xlink:href="mgic-20231231.xsd#mgic_CashPaidreceivedNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashPaidreceivedNetAbstract_lbl" xml:lang="en-US">Cash paid, net during the year for:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidreceivedNetAbstract" xlink:to="mgic_CashPaidreceivedNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract61" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract61"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract61_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract61" xlink:to="mgic_UnlabeledAbstract61_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract62" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract62"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract62_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract62" xlink:to="mgic_UnlabeledAbstract62_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions" xlink:href="mgic-20231231.xsd#mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions_lbl" xml:lang="en-US">Change in valuation of contingent consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl" xml:lang="en-US">Dividend to Magic&#8217;s shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US">Dividend to non-controlling interests in subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Changes in deferred taxes, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:href="mgic-20231231.xsd#mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl" xml:lang="en-US">Payments of deferred and contingent consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Capital gain from sale of property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:href="mgic-20231231.xsd#mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl" xml:lang="en-US">Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:to="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:href="mgic-20231231.xsd#mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl" xml:lang="en-US">Payments for business acquisitions, net of cash acquired (Appendix A)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:to="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoansToRelatedParty" xlink:href="mgic-20231231.xsd#mgic_LoansToRelatedParty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_LoansToRelatedParty_lbl" xml:lang="en-US">Loans to related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansToRelatedParty" xlink:to="mgic_LoansToRelatedParty_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany" xlink:href="mgic-20231231.xsd#mgic_PaymentsToFormerShareholdersOfConsolidatedCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany_lbl" xml:lang="en-US">Payments to former shareholders of consolidated company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany" xlink:to="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:href="mgic-20231231.xsd#mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_lbl" xml:lang="en-US">Purchase of financial assets measured at fair value through other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:href="mgic-20231231.xsd#mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl" xml:lang="en-US">Cash paid in conjunction with deferred payments and contingent liabilities related to business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:to="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Purchase of intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Investment in a company accounted for at equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PaymentsForDevelopmentProjectExpenditure" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PaymentsForDevelopmentProjectExpenditure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsForDevelopmentProjectExpenditure_lbl" xml:lang="en-US">Capitalization of software development</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsForDevelopmentProjectExpenditure" xlink:to="ifrs-full_PaymentsForDevelopmentProjectExpenditure_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xml:lang="en-US">Dividend paid to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Dividend to Magic&#8217;s shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Repayment of long-term loans from banks and others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Repayment of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:href="mgic-20231231.xsd#mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl" xml:lang="en-US">Cash paid due to exercise of put option by non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:href="mgic-20231231.xsd#mgic_IntangibleAssetsNetOfDeferredTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl" xml:lang="en-US">Intangible assets, net of deferred taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_BusinessContactMember" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_BusinessContactMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_BusinessContactMember_lbl" xml:lang="en-US">Business Contact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SoftwareServicesMember" xlink:href="mgic-20231231.xsd#mgic_SoftwareServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SoftwareServicesMember_lbl" xml:lang="en-US">Software services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SoftwareServicesMember" xlink:to="mgic_SoftwareServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MaintenanceAndTechnicalSupportMember" xlink:href="mgic-20231231.xsd#mgic_MaintenanceAndTechnicalSupportMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MaintenanceAndTechnicalSupportMember_lbl" xml:lang="en-US">Maintenance and technical support [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MaintenanceAndTechnicalSupportMember" xlink:to="mgic_MaintenanceAndTechnicalSupportMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ConsultingServicesMember" xlink:href="mgic-20231231.xsd#mgic_ConsultingServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ConsultingServicesMember_lbl" xml:lang="en-US">Consulting services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsultingServicesMember" xlink:to="mgic_ConsultingServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xml:lang="en-US">Share Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalPaidinCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionalPaidinCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarningsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US">Accumulated other Comprehensive Income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncontrollingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xml:lang="en-US">GENERAL</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory_lbl" xml:lang="en-US">MATERIAL ACCOUNTING POLICIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory" xlink:to="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl" xml:lang="en-US">Schedule of Right-of-Use Assets by Class of Underlying Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory" xlink:to="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RightUseOfAsset" xlink:href="mgic-20231231.xsd#mgic_RightUseOfAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RightUseOfAsset_lbl" xml:lang="en-US">Right use of asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RightUseOfAsset" xlink:to="mgic_RightUseOfAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl" xml:lang="en-US">Schedule of Estimated Useful Life of the Assets at Annual Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedUsefulLifeOfAsset" xlink:href="mgic-20231231.xsd#mgic_EstimatedUsefulLifeOfAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl" xml:lang="en-US">Estimated useful life of assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLifeOfAsset" xlink:to="mgic_EstimatedUsefulLifeOfAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl" xml:lang="en-US">Schedule of Useful Life of Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl" xml:lang="en-US">Useful life of intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife" xlink:to="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl" xml:lang="en-US">BUSINESS COMBINATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of Estimated Fair Values of the Assets Acquired and Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:to="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NetDeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NetDeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetDeferredTaxAssets_lbl" xml:lang="en-US">Net assets, excluding $632 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NetDeferredTaxAssets_lbl0" xml:lang="en-US">Net assets, excluding $147 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_NetDeferredTaxAssets_lbl1" xml:lang="en-US">Net assets, excluding $447 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:href="mgic-20231231.xsd#mgic_NetLiabilitiesExcludingOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl" xml:lang="en-US">Net liabilities excluding of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:href="mgic-20231231.xsd#mgic_IntangibleAssetsNetOfDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US">Intangible assets, net of deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl0" xml:lang="en-US">Customer relationships, net of deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_RedeemableNoncontrollingInterest" xlink:href="mgic-20231231.xsd#mgic_RedeemableNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterest" xlink:to="mgic_RedeemableNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GoodwillExpectedDeductibleForTaxPurposes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:to="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:href="mgic-20231231.xsd#mgic_CurrentAssetsRecognisedAsOfAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:to="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">CASH AND CASH EQUIVALENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Schedule of Cash and Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal" xlink:href="mgic-20231231.xsd#mgic_CashAndDepositsForImmediateWithdrawal"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal_lbl" xml:lang="en-US">Balance nominated in USD</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashAndDepositsForImmediateWithdrawal" xlink:to="mgic_CashAndDepositsForImmediateWithdrawal_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:href="mgic-20231231.xsd#mgic_CashEquivalentsInNISdenominatedDeposit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit_lbl" xml:lang="en-US">Balance nominated in NIS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:to="mgic_CashEquivalentsInNISdenominatedDeposit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies" xlink:href="mgic-20231231.xsd#mgic_CashEquivalentsBalanceNominatedInOtherCurrencies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies_lbl" xml:lang="en-US">Balance nominated in other currencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies" xlink:to="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_lbl" xml:lang="en-US">OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES</label>
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    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl" xml:lang="en-US">Schedule of Other Accounts Receivable And Prepaid Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:to="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPrepaidExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentPrepaidExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GovernmentGrants" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GovernmentGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GovernmentGrants_lbl" xml:lang="en-US">Government authorities</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherPayablesToRelatedParties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl" xml:lang="en-US">Related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:to="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPayables_lbl" xml:lang="en-US">Marketable securities and others</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl" xml:lang="en-US">FAIR VALUE MEASUREMENT</label>
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    <loc xlink:type="locator" xlink:label="mgic_AssetsInRespectOfBusinessCombinations" xlink:href="mgic-20231231.xsd#mgic_AssetsInRespectOfBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AssetsInRespectOfBusinessCombinations_lbl" xml:lang="en-US">Assets in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AssetsInRespectOfBusinessCombinations" xlink:to="mgic_AssetsInRespectOfBusinessCombinations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract63" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract63"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract63_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract63" xlink:to="mgic_UnlabeledAbstract63_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations" xlink:href="mgic-20231231.xsd#mgic_LiabilityInRespectOfBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinations" xlink:to="mgic_LiabilityInRespectOfBusinessCombinations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:href="mgic-20231231.xsd#mgic_PutOptionsOfNoncontrollingInterestsliabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract64" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract64"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract64_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract64" xlink:to="mgic_UnlabeledAbstract64_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilitiesAbstract0" xlink:href="mgic-20231231.xsd#mgic_LiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilitiesAbstract0_lbl" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAbstract0" xlink:to="mgic_LiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract65" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract65"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract65_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract65" xlink:to="mgic_UnlabeledAbstract65_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl" xml:lang="en-US">Schedule of Liabilities in Respect of the Business Combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory" xlink:to="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl" xml:lang="en-US">Increase in contingent consideration due to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentOfContingentConsideration" xlink:href="mgic-20231231.xsd#mgic_PaymentOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PaymentOfContingentConsideration_lbl" xml:lang="en-US">Payment of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfContingentConsideration" xlink:to="mgic_PaymentOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration" xlink:href="mgic-20231231.xsd#mgic_IncreaseInFairValueOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration_lbl" xml:lang="en-US">Increase in fair value of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInFairValueOfContingentConsideration" xlink:to="mgic_IncreaseInFairValueOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration" xlink:href="mgic-20231231.xsd#mgic_DecreaseInFairValueOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration_lbl" xml:lang="en-US">Decrease in fair value of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreaseInFairValueOfContingentConsideration" xlink:to="mgic_DecreaseInFairValueOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration" xlink:href="mgic-20231231.xsd#mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration_lbl" xml:lang="en-US">Foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration" xlink:to="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationOfInterestAndExchangeRate" xlink:href="mgic-20231231.xsd#mgic_AmortizationOfInterestAndExchangeRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationOfInterestAndExchangeRate_lbl" xml:lang="en-US">Amortization of interest and exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRate" xlink:to="mgic_AmortizationOfInterestAndExchangeRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract66" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract66"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract66_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract66" xlink:to="mgic_UnlabeledAbstract66_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory_lbl" xml:lang="en-US">Schedule of Deferred Consideration in Respect of the Business Combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory" xlink:to="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseInDeferredConsiderationDueToAcquisitions" xlink:href="mgic-20231231.xsd#mgic_IncreaseInDeferredConsiderationDueToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl" xml:lang="en-US">Increase in deferred consideration due to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInDeferredConsiderationDueToAcquisitions" xlink:to="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentOfDeferredConsideration" xlink:href="mgic-20231231.xsd#mgic_PaymentOfDeferredConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PaymentOfDeferredConsideration_lbl" xml:lang="en-US">Payment of deferred consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfDeferredConsideration" xlink:to="mgic_PaymentOfDeferredConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration" xlink:href="mgic-20231231.xsd#mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl" xml:lang="en-US">Amortization of interest and exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration" xlink:to="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration" xlink:href="mgic-20231231.xsd#mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration_lbl" xml:lang="en-US">Working capital adjustments and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration" xlink:to="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract67" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract67"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract67_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract67" xlink:to="mgic_UnlabeledAbstract67_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl" xml:lang="en-US">Schedule of Financial Assets and Liabilities in the Consolidated Statements of Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialAssetsAbstract_lbl" xml:lang="en-US">Financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAbstract" xlink:to="mgic_FinancialAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract68" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract68"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract68_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract68" xlink:to="mgic_UnlabeledAbstract68_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialAssetsAtCostAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialAssetsAtCostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialAssetsAtCostAbstract_lbl" xml:lang="en-US">Financial assets at cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAtCostAbstract" xlink:to="mgic_FinancialAssetsAtCostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract69" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract69"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract69_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract69" xlink:to="mgic_UnlabeledAbstract69_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl" xml:lang="en-US">Short-term bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MarketableSecuritie" xlink:href="mgic-20231231.xsd#mgic_MarketableSecuritie"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MarketableSecuritie_lbl" xml:lang="en-US">Marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MarketableSecuritie" xlink:to="mgic_MarketableSecuritie_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Total financial assets at cost measured at cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract70" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract70"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract70_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract70" xlink:to="mgic_UnlabeledAbstract70_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract_lbl" xml:lang="en-US">Financial assets at fair value through profit or loss:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_lbl" xml:lang="en-US">Total financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract_lbl" xml:lang="en-US">Financial liabilities at fair value through equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract" xlink:to="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterests" xlink:href="mgic-20231231.xsd#mgic_PutOptionsOfNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract71" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract71"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract71_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract71" xlink:to="mgic_UnlabeledAbstract71_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl" xml:lang="en-US">Financial liabilities at fair value through profit or loss:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombination" xlink:href="mgic-20231231.xsd#mgic_LiabilityInRespectOfBusinessCombination"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombination_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombination" xlink:to="mgic_LiabilityInRespectOfBusinessCombination_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract72" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract72"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract72_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract72" xlink:to="mgic_UnlabeledAbstract72_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl" xml:lang="en-US">Financial liabilities measured at amortized cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract" xlink:to="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoansFromBankAndFinancialInstitutions" xlink:href="mgic-20231231.xsd#mgic_LoansFromBankAndFinancialInstitutions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoansFromBankAndFinancialInstitutions_lbl" xml:lang="en-US">Loans from bank and financial institutions (short-term and long-term debts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBankAndFinancialInstitutions" xlink:to="mgic_LoansFromBankAndFinancialInstitutions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseLiabilities_lbl" xml:lang="en-US">Lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LeaseLiabilities_lbl0" xml:lang="en-US">Present value of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCost_lbl" xml:lang="en-US">Total financial liabilities measured at amortized cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:to="ifrs-full_FinancialLiabilitiesAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract73" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract73"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract73_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract73" xlink:to="mgic_UnlabeledAbstract73_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalFinancialsAndLeaseLiabilities" xlink:href="mgic-20231231.xsd#mgic_TotalFinancialsAndLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalFinancialsAndLeaseLiabilities_lbl" xml:lang="en-US">Total financial and lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalFinancialsAndLeaseLiabilities" xlink:to="mgic_TotalFinancialsAndLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">PROPERTY, PLANTS AND EQUIPMENT, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Schedule of the Composition and Movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract" xlink:href="mgic-20231231.xsd#mgic_CostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract" xlink:to="mgic_CostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract" xlink:to="mgic_AdditionsDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostPurchases" xlink:href="mgic-20231231.xsd#mgic_CostPurchases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostPurchases_lbl" xml:lang="en-US">Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostPurchases" xlink:to="mgic_CostPurchases_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Acquisitions of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreasesDuringTheYearAbstract" xlink:href="mgic-20231231.xsd#mgic_DecreasesDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreasesDuringTheYearAbstract_lbl" xml:lang="en-US">Decreases during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreasesDuringTheYearAbstract" xlink:to="mgic_DecreasesDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalPropertyPlantAndEquipment" xlink:href="mgic-20231231.xsd#mgic_DisposalPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalPropertyPlantAndEquipment_lbl" xml:lang="en-US">Disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalPropertyPlantAndEquipment" xlink:to="mgic_DisposalPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract74" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract74"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract74_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract74" xlink:to="mgic_UnlabeledAbstract74_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract75" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract75"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract75_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract75" xlink:to="mgic_UnlabeledAbstract75_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract" xlink:href="mgic-20231231.xsd#mgic_AccumulatedDepreciationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract" xlink:to="mgic_AccumulatedDepreciationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract0" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract0_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract0" xlink:to="mgic_AdditionsDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract76" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract76"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract76_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract76" xlink:to="mgic_UnlabeledAbstract76_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract77" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract77"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract77_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract77" xlink:to="mgic_UnlabeledAbstract77_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract0" xlink:href="mgic-20231231.xsd#mgic_CostAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract0_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract0" xlink:to="mgic_CostAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract1" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract1_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract1" xlink:to="mgic_AdditionsDuringTheYearAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreasesDuringTheYearAbstract0" xlink:href="mgic-20231231.xsd#mgic_DecreasesDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreasesDuringTheYearAbstract0_lbl" xml:lang="en-US">Decreases during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreasesDuringTheYearAbstract0" xlink:to="mgic_DecreasesDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract78" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract78"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract78_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract78" xlink:to="mgic_UnlabeledAbstract78_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract79" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract79"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract79_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract79" xlink:to="mgic_UnlabeledAbstract79_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract0" xlink:href="mgic-20231231.xsd#mgic_AccumulatedDepreciationAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract0_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract0" xlink:to="mgic_AccumulatedDepreciationAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract2" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract2_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract2" xlink:to="mgic_AdditionsDuringTheYearAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract80" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract80"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract80_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract80" xlink:to="mgic_UnlabeledAbstract80_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract81" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract81"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract81_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract81" xlink:to="mgic_UnlabeledAbstract81_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_lbl" xml:lang="en-US">INTANGIBLE ASSETS, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl" xml:lang="en-US">Schedule of Composition and Movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract1" xlink:href="mgic-20231231.xsd#mgic_CostAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract1_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract1" xlink:to="mgic_CostAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedDevelopmentCosts" xlink:href="mgic-20231231.xsd#mgic_CapitalizedDevelopmentCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl" xml:lang="en-US">Capitalized development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfSubsidiariesCosts" xlink:href="mgic-20231231.xsd#mgic_AcquisitionOfSubsidiariesCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfSubsidiariesCosts_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiariesCosts" xlink:to="mgic_AcquisitionOfSubsidiariesCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract82" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract82"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract82_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract82" xlink:to="mgic_UnlabeledAbstract82_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract83" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract83"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract83_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract83" xlink:to="mgic_UnlabeledAbstract83_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:href="mgic-20231231.xsd#mgic_AccumulatedAmortizationAndImpairmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl" xml:lang="en-US">Accumulated amortization and impairment:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationRecognized" xlink:href="mgic-20231231.xsd#mgic_AmortizationRecognized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationRecognized_lbl" xml:lang="en-US">Amortization recognized in the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationRecognized" xlink:to="mgic_AmortizationRecognized_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract84" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract84"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract84_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract84" xlink:to="mgic_UnlabeledAbstract84_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract85" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract85"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract85_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract85" xlink:to="mgic_UnlabeledAbstract85_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentFinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentFinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Amortized cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract2" xlink:href="mgic-20231231.xsd#mgic_CostAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract2_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract2" xlink:to="mgic_CostAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract86" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract86"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract86_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract86" xlink:to="mgic_UnlabeledAbstract86_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract87" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract87"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract87_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract87" xlink:to="mgic_UnlabeledAbstract87_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0" xlink:href="mgic-20231231.xsd#mgic_AccumulatedAmortizationAndImpairmentAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl" xml:lang="en-US">Accumulated amortization and impairment:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract0" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract88" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract88"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract88_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract88" xlink:to="mgic_UnlabeledAbstract88_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract89" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract89"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract89_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract89" xlink:to="mgic_UnlabeledAbstract89_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US">Schedule of Amortization Expenses Related to Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostsOfRevenue" xlink:href="mgic-20231231.xsd#mgic_CostsOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostsOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostsOfRevenue" xlink:to="mgic_CostsOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory_lbl" xml:lang="en-US">Schedule of Intangible Assets Composition by Reportable Segment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory" xlink:to="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:href="mgic-20231231.xsd#mgic_CapitalizedSoftwareDevelopmentCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts_lbl" xml:lang="en-US">Capitalized Software development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:to="mgic_CapitalizedSoftwareDevelopmentCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationship" xlink:href="mgic-20231231.xsd#mgic_CustomerRelationship"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomerRelationship_lbl" xml:lang="en-US">Customer relationship</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationship" xlink:to="mgic_CustomerRelationship_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquiredTechnology" xlink:href="mgic-20231231.xsd#mgic_AcquiredTechnology"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquiredTechnology_lbl" xml:lang="en-US">Acquired technology</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherIntangibleAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssets_lbl" xml:lang="en-US">Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssets" xlink:to="ifrs-full_OtherIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl" xml:lang="en-US">Schedule of Estimated Future Amortization of Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_lbl" xml:lang="en-US">GOODWILL</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US">Schedule of Carrying Amount of Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract90" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract90"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract90_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract90" xlink:to="mgic_UnlabeledAbstract90_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionsOfSubsidiaries" xlink:href="mgic-20231231.xsd#mgic_AcquisitionsOfSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl" xml:lang="en-US">Business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods_lbl" xml:lang="en-US">Measurement period adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods" xlink:to="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl" xml:lang="en-US">Foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract91" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract91"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract91_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract91" xlink:to="mgic_UnlabeledAbstract91_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract92" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract92"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract92_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract92" xlink:to="mgic_UnlabeledAbstract92_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract93" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract93"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract93_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract93" xlink:to="mgic_UnlabeledAbstract93_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US">Schedule of Assessment for Goodwill Impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xml:lang="en-US">Carrying amount (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageCostOfCapitals" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageCostOfCapitals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl" xml:lang="en-US">Weighted average cost of capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TerminalValueGrowthRate" xlink:href="mgic-20231231.xsd#mgic_TerminalValueGrowthRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TerminalValueGrowthRate_lbl" xml:lang="en-US">Terminal value growth rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminalValueGrowthRate" xlink:to="mgic_TerminalValueGrowthRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl" xml:lang="en-US">SHORT TERM DEBTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBorrowingCostsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBorrowingCostsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBorrowingCostsExplanatory_lbl" xml:lang="en-US">Schedule of Short Term Debts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingCostsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingCostsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:href="mgic-20231231.xsd#mgic_DebtInstrumentInterestRatesStatedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl" xml:lang="en-US">Interest rate %</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl0" xml:lang="en-US">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DerivativeCurrenciesBought" xlink:href="mgic-20231231.xsd#mgic_DerivativeCurrenciesBought"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DerivativeCurrenciesBought_lbl" xml:lang="en-US">Currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_DerivativeCurrenciesBought_lbl0" xml:lang="en-US">Linkage basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_lbl" xml:lang="en-US">ACCRUED EXPENSES AND OTHER ACCOUNTS PAYABLE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of Accrued Expenses and Other Accounts Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GovernmentDebtInstrumentsHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld_lbl" xml:lang="en-US">Government authorities and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentDebtInstrumentsHeld" xlink:to="ifrs-full_GovernmentDebtInstrumentsHeld_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl" xml:lang="en-US">LONG TERM DEBTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl" xml:lang="en-US">Schedule of Long Term Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalLongTermBorrowings" xlink:href="mgic-20231231.xsd#mgic_TotalLongTermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalLongTermBorrowings_lbl" xml:lang="en-US">Total long term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract94" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract94"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract94_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract94" xlink:to="mgic_UnlabeledAbstract94_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfMaturityDatesExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfMaturityDatesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfMaturityDatesExplanatory_lbl" xml:lang="en-US">Schedule of Maturity Dates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfMaturityDatesExplanatory" xlink:to="mgic_DisclosureOfMaturityDatesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xml:lang="en-US">Total Maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xml:lang="en-US">RELATED PARTIES TRANSACTIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl" xml:lang="en-US">LEASES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl" xml:lang="en-US">Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:to="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GrossLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossLeaseLiabilities_lbl" xml:lang="en-US">Undiscounted future lease payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossLeaseLiabilities" xlink:to="ifrs-full_GrossLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract95" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract95"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract95_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract95" xlink:to="mgic_UnlabeledAbstract95_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfInformationOnLeasesExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfInformationOnLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfInformationOnLeasesExplanatory_lbl" xml:lang="en-US">Schedule of Information on leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfInformationOnLeasesExplanatory" xlink:to="mgic_DisclosureOfInformationOnLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:href="mgic-20231231.xsd#mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl" xml:lang="en-US">Expenses relating to operating lease costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_lbl" xml:lang="en-US">Expenses relating to short-term leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:to="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl" xml:lang="en-US">Expenses relating to variable lease payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashOutflowForLeases" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashOutflowForLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashOutflowForLeases_lbl" xml:lang="en-US">Total cash outflow for leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xml:lang="en-US">Schedule of Weighted Average Remaining Lease Terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2023Abstract" xlink:href="mgic-20231231.xsd#mgic_a2023Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2023Abstract_lbl" xml:lang="en-US">2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2023Abstract" xlink:to="mgic_a2023Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingLeaseTermyears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears_lbl" xml:lang="en-US">Weighted average remaining lease term (years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingLeaseTermyears" xlink:to="mgic_WeightedAverageRemainingLeaseTermyears_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageDiscountRate" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageDiscountRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageDiscountRate_lbl" xml:lang="en-US">Weighted average discount rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageDiscountRate" xlink:to="mgic_WeightedAverageDiscountRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xml:lang="en-US">Schedule of Right-of-Use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract3" xlink:href="mgic-20231231.xsd#mgic_CostAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract3_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract3" xlink:to="mgic_CostAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract3" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract3_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract3" xlink:to="mgic_AdditionsDuringTheYearAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionsToRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionsToRightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xml:lang="en-US">New leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsToRightofuseAssets" xlink:to="ifrs-full_AdditionsToRightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ModificationOfLeases" xlink:href="mgic-20231231.xsd#mgic_ModificationOfLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ModificationOfLeases_lbl" xml:lang="en-US">Modification of leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ModificationOfLeases" xlink:to="mgic_ModificationOfLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsForIndexation" xlink:href="mgic-20231231.xsd#mgic_AdjustmentsForIndexation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsForIndexation_lbl" xml:lang="en-US">Adjustments for indexation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForIndexation" xlink:to="mgic_AdjustmentsForIndexation_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfSubsidiaries" xlink:href="mgic-20231231.xsd#mgic_AcquisitionOfSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfSubsidiaries_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiaries" xlink:to="mgic_AcquisitionOfSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract" xlink:href="mgic-20231231.xsd#mgic_DisposalsDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract" xlink:to="mgic_DisposalsDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TerminationOfLeases" xlink:href="mgic-20231231.xsd#mgic_TerminationOfLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TerminationOfLeases_lbl" xml:lang="en-US">Termination of leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminationOfLeases" xlink:to="mgic_TerminationOfLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract96" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract96"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract96_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract96" xlink:to="mgic_UnlabeledAbstract96_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract97" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract97"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract97_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract97" xlink:to="mgic_UnlabeledAbstract97_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract1" xlink:href="mgic-20231231.xsd#mgic_AccumulatedDepreciationAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract1_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract1" xlink:to="mgic_AccumulatedDepreciationAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract4" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract4_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract4" xlink:to="mgic_AdditionsDuringTheYearAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract0" xlink:href="mgic-20231231.xsd#mgic_DisposalsDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract0_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract0" xlink:to="mgic_DisposalsDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract98" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract98"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract98_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract98" xlink:to="mgic_UnlabeledAbstract98_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract99" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract99"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract99_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract99" xlink:to="mgic_UnlabeledAbstract99_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DepreciatedCost" xlink:href="mgic-20231231.xsd#mgic_DepreciatedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DepreciatedCost_lbl" xml:lang="en-US">Depreciated cost at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DepreciatedCost" xlink:to="mgic_DepreciatedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract4" xlink:href="mgic-20231231.xsd#mgic_CostAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract4_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract4" xlink:to="mgic_CostAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract5" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract5"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract5_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract5" xlink:to="mgic_AdditionsDuringTheYearAbstract5_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract1" xlink:href="mgic-20231231.xsd#mgic_DisposalsDuringTheYearAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract1_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract1" xlink:to="mgic_DisposalsDuringTheYearAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract100" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract100"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract100_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract100" xlink:to="mgic_UnlabeledAbstract100_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract101" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract101"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract101_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract101" xlink:to="mgic_UnlabeledAbstract101_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract2" xlink:href="mgic-20231231.xsd#mgic_AccumulatedDepreciationAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract2_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract2" xlink:to="mgic_AccumulatedDepreciationAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract6" xlink:href="mgic-20231231.xsd#mgic_AdditionsDuringTheYearAbstract6"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract6_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract6" xlink:to="mgic_AdditionsDuringTheYearAbstract6_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract2" xlink:href="mgic-20231231.xsd#mgic_DisposalsDuringTheYearAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract2_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract2" xlink:to="mgic_DisposalsDuringTheYearAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract102" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract102"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract102_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract102" xlink:to="mgic_UnlabeledAbstract102_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract103" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract103"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract103_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract103" xlink:to="mgic_UnlabeledAbstract103_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xml:lang="en-US">SHARE BASED PAYMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory_lbl" xml:lang="en-US">Schedule of Employee Option Activity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingContractualTermOutstandingBeginning"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl" xml:lang="en-US">Weighted average remaining contractual term, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract104" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract104"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract104_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract104" xlink:to="mgic_UnlabeledAbstract104_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingContractualTermOutstandingEnding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl" xml:lang="en-US">Weighted average remaining contractual term, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract105" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract105"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract105_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract105" xlink:to="mgic_UnlabeledAbstract105_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingContractualTermExercisable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl" xml:lang="en-US">Weighted average remaining contractual term, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl" xml:lang="en-US">Aggregate intrinsic value, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:to="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract106" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract106"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract106_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract106" xlink:to="mgic_UnlabeledAbstract106_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl" xml:lang="en-US">Schedule of Options Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Options outstanding, Exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingContractualLifeExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl" xml:lang="en-US">Weighted average remaining contractual life, Exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:to="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl" xml:lang="en-US">Options exercisable, Exercise price (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:to="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl" xml:lang="en-US">Schedule of Fair Value of the Options Granted Using the Binomial Model</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl" xml:lang="en-US">Share price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:to="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl" xml:lang="en-US">Contractual life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageExpectedExerciseFactor" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageExpectedExerciseFactor"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageExpectedExerciseFactor_lbl" xml:lang="en-US">Expected exercise factor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExpectedExerciseFactor" xlink:to="mgic_WeightedAverageExpectedExerciseFactor_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US">Expected volatility (weighted average)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US">Risk-free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueOfOptionAtTheGrantDate" xlink:href="mgic-20231231.xsd#mgic_FairValueOfOptionAtTheGrantDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl" xml:lang="en-US">Fair value of option at the grant date (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl" xml:lang="en-US">Schedule of Share-Based Payment Expense Related to Employee Stock Option</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory" xlink:to="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl0" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl" xml:lang="en-US">EMPLOYEE BENEFIT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl" xml:lang="en-US">Schedule of Defined Benefit Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:to="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US">Defined benefit obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract107" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract107"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract107_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract107" xlink:to="mgic_UnlabeledAbstract107_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl"/>
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    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfAccumulatedOtherComprehensiveIncomeLossExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfAccumulatedOtherComprehensiveIncomeLossExplanatory"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax"/>
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    <loc xlink:type="locator" xlink:label="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" xlink:href="mgic-20231231.xsd#mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet"/>
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    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract108" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract108"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract108" xlink:to="mgic_UnlabeledAbstract108_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory_lbl" xml:lang="en-US">Schedule of Presentation Net Deferred Tax Assets and Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:to="ifrs-full_DisclosureOfDeferredTaxesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of Components of the Company&#8217;s Deferred Tax Assets and Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory" xlink:to="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxLiabilitieAbstract" xlink:href="mgic-20231231.xsd#mgic_DeferredTaxLiabilitieAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxLiabilitieAbstract_lbl" xml:lang="en-US">Deferred tax liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxLiabilitieAbstract" xlink:to="mgic_DeferredTaxLiabilitieAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GrossDeferredTaxLiabilities" xlink:href="mgic-20231231.xsd#mgic_GrossDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_GrossDeferredTaxLiabilities_lbl" xml:lang="en-US">Gross deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GrossDeferredTaxLiabilities" xlink:to="mgic_GrossDeferredTaxLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract109" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract109"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract109_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract109" xlink:to="mgic_UnlabeledAbstract109_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract110" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract110"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract110_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract110" xlink:to="mgic_UnlabeledAbstract110_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_DeferredTaxAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxAssetsAbstract_lbl" xml:lang="en-US">Deferred tax assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxAssetsAbstract" xlink:to="mgic_DeferredTaxAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract111" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract111"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract111" xlink:to="mgic_UnlabeledAbstract111_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GrossDeferredTaxAssets" xlink:href="mgic-20231231.xsd#mgic_GrossDeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_GrossDeferredTaxAssets_lbl" xml:lang="en-US">Gross deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GrossDeferredTaxAssets" xlink:to="mgic_GrossDeferredTaxAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract112" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract112"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract112_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract112" xlink:to="mgic_UnlabeledAbstract112_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfIncomeTaxTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl" xml:lang="en-US">Schedule of Income Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:to="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentAbstract" xlink:href="mgic-20231231.xsd#mgic_CurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentAbstract_lbl" xml:lang="en-US">Current:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAbstract" xlink:to="mgic_CurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentFederalTaxExpenseBenefi" xlink:href="mgic-20231231.xsd#mgic_CurrentFederalTaxExpenseBenefi"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentFederalTaxExpenseBenefi_lbl" xml:lang="en-US">Domestic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentFederalTaxExpenseBenefi" xlink:to="mgic_CurrentFederalTaxExpenseBenefi_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ForeignTaxExpenseBenefit" xlink:href="mgic-20231231.xsd#mgic_ForeignTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ForeignTaxExpenseBenefit_lbl" xml:lang="en-US">Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignTaxExpenseBenefit" xlink:to="mgic_ForeignTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract113" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract113"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract113_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract113" xlink:to="mgic_UnlabeledAbstract113_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxesAbstract" xlink:href="mgic-20231231.xsd#mgic_DeferredTaxesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxesAbstract_lbl" xml:lang="en-US">Deferred taxes:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesAbstract" xlink:to="mgic_DeferredTaxesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredDomesticIncomeTaxExpenseBenefi" xlink:href="mgic-20231231.xsd#mgic_DeferredDomesticIncomeTaxExpenseBenefi"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredDomesticIncomeTaxExpenseBenefi_lbl" xml:lang="en-US">Domestic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredDomesticIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredDomesticIncomeTaxExpenseBenefi_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:href="mgic-20231231.xsd#mgic_DeferredForeignIncomeTaxExpenseBenefi"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl" xml:lang="en-US">Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract114" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract114"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract114_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract114" xlink:to="mgic_UnlabeledAbstract114_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit" xlink:href="mgic-20231231.xsd#mgic_DeferredIncomeTaxExpensesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract115" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract115"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract115_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract115" xlink:to="mgic_UnlabeledAbstract115_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:to="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract116" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract116"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract116" xlink:to="mgic_UnlabeledAbstract116_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxRateEffectOfForeignTaxRates" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxRateEffectOfForeignTaxRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl" xml:lang="en-US">Statutory tax rate in Israel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract117" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract117"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract117" xlink:to="mgic_UnlabeledAbstract117_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xml:lang="en-US">Tax computed at the statutory tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract118" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract118"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract118_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract118" xlink:to="mgic_UnlabeledAbstract118_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxEffectOfForeignTaxRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xml:lang="en-US">Tax adjustment in respect of different tax rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl0" xml:lang="en-US">Tax rate (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xml:lang="en-US">Tax-deductible costs, not included in the accounting costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:to="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl" xml:lang="en-US">Non-deductible expenses and tax expenses in respect of prior years, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:to="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UncertainTaxPositionsAndOther" xlink:href="mgic-20231231.xsd#mgic_UncertainTaxPositionsAndOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl" xml:lang="en-US">Uncertain tax positions and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract119" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract119"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract119_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract119" xlink:to="mgic_UnlabeledAbstract119_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRevenueExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory_lbl" xml:lang="en-US">REVENUE RECOGNITION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_lbl" xml:lang="en-US">Schedule of Deferred Revenues from Contracts with Customers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en-US">Trade receivables (net of allowance for credit losses of $5,416 and $7,066 at December 31, 2022 and 2023, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivables" xlink:to="ifrs-full_TradeReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AllowanceAccountForCreditLosses" xlink:href="mgic-20231231.xsd#mgic_AllowanceAccountForCreditLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AllowanceAccountForCreditLosses_lbl" xml:lang="en-US">Net of allowance for credit losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowanceAccountForCreditLosses" xlink:to="mgic_AllowanceAccountForCreditLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnbilledReceivables" xlink:href="mgic-20231231.xsd#mgic_UnbilledReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnbilledReceivables_lbl" xml:lang="en-US">Unbilled receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnbilledReceivables" xlink:to="mgic_UnbilledReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContractAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ContractAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en-US">Contract assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractAssets" xlink:to="ifrs-full_ContractAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherNoncurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl" xml:lang="en-US">Long-term unbilled receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentTradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl" xml:lang="en-US">Long-term trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentTradeReceivables" xlink:to="ifrs-full_NoncurrentTradeReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNonfinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherNonfinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en-US">Deferred revenues (short-term contract liabilities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNonfinancialLiabilities" xlink:to="ifrs-full_OtherNonfinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired_lbl" xml:lang="en-US">Schedule of Past due but not Impaired Trade Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired" xlink:to="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalTradeReceivablesNet" xlink:href="mgic-20231231.xsd#mgic_TotalTradeReceivablesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalTradeReceivablesNet_lbl" xml:lang="en-US">Total trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalTradeReceivablesNet" xlink:to="mgic_TotalTradeReceivablesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory_lbl" xml:lang="en-US">Schedule of Revenue by timing of Revenue Recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory" xlink:to="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ProductsAndServicesTransferredOverTime" xlink:href="mgic-20231231.xsd#mgic_ProductsAndServicesTransferredOverTime"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ProductsAndServicesTransferredOverTime_lbl" xml:lang="en-US">Products and services transferred over time</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsAndServicesTransferredOverTime" xlink:to="mgic_ProductsAndServicesTransferredOverTime_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ProductsTransferredAtAPointInTime" xlink:href="mgic-20231231.xsd#mgic_ProductsTransferredAtAPointInTime"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ProductsTransferredAtAPointInTime_lbl" xml:lang="en-US">Products transferred at a point in time</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsTransferredAtAPointInTime" xlink:to="mgic_ProductsTransferredAtAPointInTime_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl" xml:lang="en-US">SELECTED STATEMENTS OF INCOME DATA</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl" xml:lang="en-US">Schedule of Research and Development Costs, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ResearchAndDevelopmentExpenseGross" xlink:href="mgic-20231231.xsd#mgic_ResearchAndDevelopmentExpenseGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ResearchAndDevelopmentExpenseGross_lbl" xml:lang="en-US">Total costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ResearchAndDevelopmentExpenseGross" xlink:to="mgic_ResearchAndDevelopmentExpenseGross_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract120" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract120"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract120_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract120" xlink:to="mgic_UnlabeledAbstract120_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfSellingAndMarketingExpensesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory_lbl" xml:lang="en-US">Schedule of Selling and Marketing Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory" xlink:to="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WagesAndSalaries" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WagesAndSalaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WagesAndSalaries_lbl" xml:lang="en-US">Salary and related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdvertisingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdvertisingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdvertisingExpense_lbl" xml:lang="en-US">Advertising expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdvertisingExpense" xlink:to="ifrs-full_AdvertisingExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherExpenseByNature" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xml:lang="en-US">Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl" xml:lang="en-US">Schedule of General and Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_Subcontractors" xlink:href="mgic-20231231.xsd#mgic_Subcontractors"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_Subcontractors_lbl" xml:lang="en-US">Subcontractors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Subcontractors" xlink:to="mgic_Subcontractors_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of Financial Income and Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialExpensesAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialExpensesAbstract_lbl" xml:lang="en-US">Financial expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialExpensesAbstract" xlink:to="mgic_FinancialExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract121" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract121"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract121_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract121" xlink:to="mgic_UnlabeledAbstract121_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpenseOnBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US">Interest expenses on loans and borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl" xml:lang="en-US">Interest expenses attributed to leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BankAndSimilarCharges" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BankAndSimilarCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BankAndSimilarCharges_lbl" xml:lang="en-US">Bank charges, negative foreign exchange differences and other financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialIncomeAbstract" xlink:href="mgic-20231231.xsd#mgic_FinancialIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialIncomeAbstract_lbl" xml:lang="en-US">Financial income:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialIncomeAbstract" xlink:to="mgic_FinancialIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestIncomeOnDeposits" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestIncomeOnDeposits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnDeposits_lbl" xml:lang="en-US">Interest income attributed to bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnDeposits" xlink:to="ifrs-full_InterestIncomeOnDeposits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en-US">Interest income from deposits, positive foreign exchange differences and other financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_OtherIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract122" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract122"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract122_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract122" xlink:to="mgic_UnlabeledAbstract122_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherFinanceIncomeCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xml:lang="en-US">Financial expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl" xml:lang="en-US">Schedule of Computation of B asic and Diluted Net Earnings Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NumeratorAbstract" xlink:href="mgic-20231231.xsd#mgic_NumeratorAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NumeratorAbstract_lbl" xml:lang="en-US">Numerator:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NumeratorAbstract" xlink:to="mgic_NumeratorAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:href="mgic-20231231.xsd#mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl" xml:lang="en-US">Net income attributable to Magic shareholders (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:to="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DenominatorAbstract" xlink:href="mgic-20231231.xsd#mgic_DenominatorAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DenominatorAbstract_lbl" xml:lang="en-US">Denominator:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DenominatorAbstract" xlink:to="mgic_DenominatorAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageShares_lbl" xml:lang="en-US">Basic earnings per share - weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EffectOfDilutiveSecurities" xlink:href="mgic-20231231.xsd#mgic_EffectOfDilutiveSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EffectOfDilutiveSecurities_lbl" xml:lang="en-US">Effect of dilutive securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfDilutiveSecurities" xlink:to="mgic_EffectOfDilutiveSecurities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustedWeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustedWeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xml:lang="en-US">Diluted earnings per share &#8211; adjusted weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl" xml:lang="en-US">OPERATING SEGMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl" xml:lang="en-US">Schedule of Reported Segment Results of Operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory" xlink:to="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2021Abstract" xlink:href="mgic-20231231.xsd#mgic_a2021Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2021Abstract_lbl" xml:lang="en-US">2021</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2021Abstract" xlink:to="mgic_a2021Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US">Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract123" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract123"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract123_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract123" xlink:to="mgic_UnlabeledAbstract123_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract124" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract124"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract124_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract124" xlink:to="mgic_UnlabeledAbstract124_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract125" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract125"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract125_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract125" xlink:to="mgic_UnlabeledAbstract125_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2022Abstract" xlink:href="mgic-20231231.xsd#mgic_a2022Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2022Abstract_lbl" xml:lang="en-US">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2022Abstract" xlink:to="mgic_a2022Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract126" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract126"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract126_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract126" xlink:to="mgic_UnlabeledAbstract126_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract127" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract127"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract127_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract127" xlink:to="mgic_UnlabeledAbstract127_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract128" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract128"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract128_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract128" xlink:to="mgic_UnlabeledAbstract128_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2023Abstract0" xlink:href="mgic-20231231.xsd#mgic_a2023Abstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2023Abstract0_lbl" xml:lang="en-US">2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2023Abstract0" xlink:to="mgic_a2023Abstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract129" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract129"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract129_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract129" xlink:to="mgic_UnlabeledAbstract129_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract130" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract130"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract130_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract130" xlink:to="mgic_UnlabeledAbstract130_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract131" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract131"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract131_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract131" xlink:to="mgic_UnlabeledAbstract131_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeographicalAreasExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory_lbl" xml:lang="en-US">Schedule of Total Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:to="ifrs-full_DisclosureOfGeographicalAreasExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract132" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract132"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract132_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract132" xlink:to="mgic_UnlabeledAbstract132_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory" xlink:href="mgic-20231231.xsd#mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory_lbl" xml:lang="en-US">Schedule of Long-Lived Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory" xlink:to="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LonglivedAssets" xlink:href="mgic-20231231.xsd#mgic_LonglivedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LonglivedAssets_lbl" xml:lang="en-US">Total long-lived assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract133" xlink:href="mgic-20231231.xsd#mgic_UnlabeledAbstract133"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract133_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract133" xlink:to="mgic_UnlabeledAbstract133_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeesAndPayrollAccruals" xlink:href="mgic-20231231.xsd#mgic_EmployeesAndPayrollAccruals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_EmployeesAndPayrollAccruals_lbl" xml:lang="en-US">Employees and payroll accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeesAndPayrollAccruals" xlink:to="mgic_EmployeesAndPayrollAccruals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedExpenses" xlink:href="mgic-20231231.xsd#mgic_AccruedExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_AccruedExpenses_lbl" xml:lang="en-US">Accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedExpenses" xlink:to="mgic_AccruedExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xml:lang="en-US">Less imputed interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:to="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SellingAndMarketingExpenses" xlink:href="mgic-20231231.xsd#mgic_SellingAndMarketingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_SellingAndMarketingExpenses_lbl" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpenses" xlink:to="mgic_SellingAndMarketingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PlanAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US">Fair value of plan assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Deferred taxes on losses for which deferred taxes were not created</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareCosts" xlink:href="mgic-20231231.xsd#mgic_CapitalizedSoftwareCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CapitalizedSoftwareCosts_lbl" xml:lang="en-US">Less - capitalized software costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LandAndBuildingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LandAndBuildingsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandAndBuildingsMember_lbl" xml:lang="en-US">Land and buildings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandAndBuildingsMember" xlink:to="ifrs-full_LandAndBuildingsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MotorVehiclesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MotorVehiclesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MotorVehiclesMember_lbl" xml:lang="en-US">Motor vehicles [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MotorVehiclesMember_lbl0" xml:lang="en-US">Motor vehicles [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BottomOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US">Bottom of Range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl0" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl1" xml:lang="en-US">Bottom of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TopOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TopOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US">Top of Range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl0" xml:lang="en-US">Top of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_softwareMember" xlink:href="mgic-20231231.xsd#mgic_softwareMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_softwareMember_lbl" xml:lang="en-US">Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_softwareMember" xlink:to="mgic_softwareMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComputerEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComputerEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerEquipmentMember_lbl" xml:lang="en-US">Computers and peripheral equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerEquipmentMember" xlink:to="ifrs-full_ComputerEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OfficeFurnitureAndEquipmentMember" xlink:href="mgic-20231231.xsd#mgic_OfficeFurnitureAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OfficeFurnitureAndEquipmentMember_lbl" xml:lang="en-US">Office furniture and equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OfficeFurnitureAndEquipmentMember" xlink:to="mgic_OfficeFurnitureAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationshipMember" xlink:href="mgic-20231231.xsd#mgic_CustomerRelationshipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomerRelationshipMember_lbl" xml:lang="en-US">Customer relationships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipMember" xlink:to="mgic_CustomerRelationshipMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquiredTechnologyMember" xlink:href="mgic-20231231.xsd#mgic_AcquiredTechnologyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquiredTechnologyMember_lbl" xml:lang="en-US">Acquired Technology [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnologyMember" xlink:to="mgic_AcquiredTechnologyMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_AcquiredTechnologyMember_lbl0" xml:lang="en-US">Acquired technology [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnologyMember" xlink:to="mgic_AcquiredTechnologyMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_KMTMHTechnologiesCommunicationComputerLtdMember" xlink:href="mgic-20231231.xsd#mgic_KMTMHTechnologiesCommunicationComputerLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_KMTMHTechnologiesCommunicationComputerLtdMember_lbl" xml:lang="en-US">K.M.T. (M.H.) Technologies Communication Computer Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_KMTMHTechnologiesCommunicationComputerLtdMember" xlink:to="mgic_KMTMHTechnologiesCommunicationComputerLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SharesPurchaseAgreementMember" xlink:href="mgic-20231231.xsd#mgic_SharesPurchaseAgreementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SharesPurchaseAgreementMember_lbl" xml:lang="en-US">Share Purchase Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharesPurchaseAgreementMember" xlink:to="mgic_SharesPurchaseAgreementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SharePurchaseAgreementMember" xlink:href="mgic-20231231.xsd#mgic_SharePurchaseAgreementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SharePurchaseAgreementMember_lbl" xml:lang="en-US">Share Purchase Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharePurchaseAgreementMember" xlink:to="mgic_SharePurchaseAgreementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodkindGroupLLCMember" xlink:href="mgic-20231231.xsd#mgic_GoodkindGroupLLCMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_GoodkindGroupLLCMember_lbl" xml:lang="en-US">Goodkind Group, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodkindGroupLLCMember" xlink:to="mgic_GoodkindGroupLLCMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ITProfessionalServicesMember" xlink:href="mgic-20231231.xsd#mgic_ITProfessionalServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ITProfessionalServicesMember_lbl" xml:lang="en-US">IT Professional Services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ITProfessionalServicesMember" xlink:to="mgic_ITProfessionalServicesMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_ITProfessionalServicesMember_lbl0" xml:lang="en-US">IT professional services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ITProfessionalServicesMember" xlink:to="mgic_ITProfessionalServicesMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_AssetPurchaseAgreementsMember" xlink:href="mgic-20231231.xsd#mgic_AssetPurchaseAgreementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AssetPurchaseAgreementsMember_lbl" xml:lang="en-US">Asset Purchase Agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AssetPurchaseAgreementsMember" xlink:to="mgic_AssetPurchaseAgreementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US">Accumulated Depreciation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl0" xml:lang="en-US">Accumulated depreciation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ComputersAndPeripheralEquipmentMember" xlink:href="mgic-20231231.xsd#mgic_ComputersAndPeripheralEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ComputersAndPeripheralEquipmentMember_lbl" xml:lang="en-US">Computers and peripheral equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ComputersAndPeripheralEquipmentMember" xlink:to="mgic_ComputersAndPeripheralEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseholdImprovementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:href="mgic-20231231.xsd#mgic_CapitalizedSoftwareDevelopmentCostsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl" xml:lang="en-US">Capitalized Software development costs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:to="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomersRelationshipMember" xlink:href="mgic-20231231.xsd#mgic_CustomersRelationshipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomersRelationshipMember_lbl" xml:lang="en-US">Customer relationship [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersRelationshipMember" xlink:to="mgic_CustomersRelationshipMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherMember" xlink:href="mgic-20231231.xsd#mgic_OtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherMember_lbl" xml:lang="en-US">Others [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherMember" xlink:to="mgic_OtherMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_OtherMember_lbl0" xml:lang="en-US">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherMember" xlink:to="mgic_OtherMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xml:lang="en-US">2024 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl0" xml:lang="en-US">First year (Current maturities) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl1" xml:lang="en-US">Over 121 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US">2025 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0" xml:lang="en-US">Second year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US">2026 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl0" xml:lang="en-US">Third year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xml:lang="en-US">2027 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl0" xml:lang="en-US">Fourth year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">2028 and thereafter	[Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0" xml:lang="en-US">Fifth year and thereafter [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl1" xml:lang="en-US">2028 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermCreditFromBanksMember" xlink:href="mgic-20231231.xsd#mgic_ShortTermCreditFromBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShortTermCreditFromBanksMember_lbl" xml:lang="en-US">Short-term loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermCreditFromBanksMember" xlink:to="mgic_ShortTermCreditFromBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:href="mgic-20231231.xsd#mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl" xml:lang="en-US">Current maturities of long-term loans from financial institutions and banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:href="mgic-20231231.xsd#mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl" xml:lang="en-US">Current maturities of long-term loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedInterestOnLongTermDebtMember" xlink:href="mgic-20231231.xsd#mgic_AccruedInterestOnLongTermDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccruedInterestOnLongTermDebtMember_lbl" xml:lang="en-US">Accrued interest on long term debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtMember" xlink:to="mgic_AccruedInterestOnLongTermDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedInterestOnLongTermDebtOneMember" xlink:href="mgic-20231231.xsd#mgic_AccruedInterestOnLongTermDebtOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccruedInterestOnLongTermDebtOneMember_lbl" xml:lang="en-US">Accrued interest on long term debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtOneMember" xlink:to="mgic_AccruedInterestOnLongTermDebtOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoansFromBanksAndOthersMember" xlink:href="mgic-20231231.xsd#mgic_LoansFromBanksAndOthersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoansFromBanksAndOthersMember_lbl" xml:lang="en-US">Loans from banks and others [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBanksAndOthersMember" xlink:to="mgic_LoansFromBanksAndOthersMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BankLoansMember" xlink:href="mgic-20231231.xsd#mgic_BankLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_BankLoansMember_lbl" xml:lang="en-US">Bank loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BankLoansMember" xlink:to="mgic_BankLoansMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherLongTermDebtsMember" xlink:href="mgic-20231231.xsd#mgic_OtherLongTermDebtsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherLongTermDebtsMember_lbl" xml:lang="en-US">Other long-term debts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherLongTermDebtsMember" xlink:to="mgic_OtherLongTermDebtsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalLongTermDebtMember" xlink:href="mgic-20231231.xsd#mgic_TotalLongTermDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalLongTermDebtMember_lbl" xml:lang="en-US">Total Long Term Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermDebtMember" xlink:to="mgic_TotalLongTermDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LessCurrentMaturitiesMember" xlink:href="mgic-20231231.xsd#mgic_LessCurrentMaturitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LessCurrentMaturitiesMember_lbl" xml:lang="en-US">Less current maturities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LessCurrentMaturitiesMember" xlink:to="mgic_LessCurrentMaturitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US">2028 and thereafter [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostMember" xlink:href="mgic-20231231.xsd#mgic_CostMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostMember_lbl" xml:lang="en-US">Cost [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostMember" xlink:to="mgic_CostMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BuildingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BuildingsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en-US">Buildings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TwoThousandSevenPlanMember" xlink:href="mgic-20231231.xsd#mgic_TwoThousandSevenPlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TwoThousandSevenPlanMember_lbl" xml:lang="en-US">Two Thousand Seven Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TwoThousandSevenPlanMember" xlink:to="mgic_TwoThousandSevenPlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommITSolutions2022PlanMember" xlink:href="mgic-20231231.xsd#mgic_CommITSolutions2022PlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CommITSolutions2022PlanMember_lbl" xml:lang="en-US">Comm-IT Solutions 2022 Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommITSolutions2022PlanMember" xlink:to="mgic_CommITSolutions2022PlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ZeroPointTwoEightMember" xlink:href="mgic-20231231.xsd#mgic_ZeroPointTwoEightMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ZeroPointTwoEightMember_lbl" xml:lang="en-US">0.28 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ZeroPointTwoEightMember" xlink:to="mgic_ZeroPointTwoEightMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FourHundredFiftyFiveMember" xlink:href="mgic-20231231.xsd#mgic_FourHundredFiftyFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FourHundredFiftyFiveMember_lbl" xml:lang="en-US">455 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourHundredFiftyFiveMember" xlink:to="mgic_FourHundredFiftyFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OneThousandEightHundredTwentyTwoMember" xlink:href="mgic-20231231.xsd#mgic_OneThousandEightHundredTwentyTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OneThousandEightHundredTwentyTwoMember_lbl" xml:lang="en-US">1,822 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OneThousandEightHundredTwentyTwoMember" xlink:to="mgic_OneThousandEightHundredTwentyTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:href="mgic-20231231.xsd#mgic_StockOptionPlanOfCommITSolutionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember_lbl" xml:lang="en-US">Stock Option Plan of Comm-IT Solutions [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:to="mgic_StockOptionPlanOfCommITSolutionsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfSharebasedPaymentMember" xlink:href="mgic-20231231.xsd#mgic_CostOfSharebasedPaymentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfSharebasedPaymentMember_lbl" xml:lang="en-US">Cost of share-based payment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfSharebasedPaymentMember" xlink:to="mgic_CostOfSharebasedPaymentMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_CostOfSharebasedPaymentMember_lbl0" xml:lang="en-US">Cost of Share-Based Payment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfSharebasedPaymentMember" xlink:to="mgic_CostOfSharebasedPaymentMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsMember" xlink:href="mgic-20231231.xsd#mgic_IntangibleAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IntangibleAssetsMember_lbl" xml:lang="en-US">Intangible assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsMember" xlink:to="mgic_IntangibleAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AllowanceForCreditLossesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AllowanceForCreditLossesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AllowanceForCreditLossesMember_lbl" xml:lang="en-US">Reserves and allowances [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllowanceForCreditLossesMember" xlink:to="ifrs-full_AllowanceForCreditLossesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RightofuseAssetMember" xlink:href="mgic-20231231.xsd#mgic_RightofuseAssetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RightofuseAssetMember_lbl" xml:lang="en-US">Right-of-use assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RightofuseAssetMember" xlink:to="mgic_RightofuseAssetMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CarryforwardsLossesMember" xlink:href="mgic-20231231.xsd#mgic_CarryforwardsLossesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CarryforwardsLossesMember_lbl" xml:lang="en-US">Carry-forwards losses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CarryforwardsLossesMember" xlink:to="mgic_CarryforwardsLossesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseLiabilitieMember" xlink:href="mgic-20231231.xsd#mgic_LeaseLiabilitieMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseLiabilitieMember_lbl" xml:lang="en-US">Lease liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseLiabilitieMember" xlink:to="mgic_LeaseLiabilitieMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NeitherPastDueNorImpairedMember" xlink:href="mgic-20231231.xsd#mgic_NeitherPastDueNorImpairedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NeitherPastDueNorImpairedMember_lbl" xml:lang="en-US">Neither past due nor impaired [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NeitherPastDueNorImpairedMember" xlink:to="mgic_NeitherPastDueNorImpairedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotLaterThanOneMonthMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotLaterThanOneMonthMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US">Up to 30 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US">31-60 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl" xml:lang="en-US">61-90 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:to="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en-US">91-120 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:to="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalMember" xlink:href="mgic-20231231.xsd#mgic_TotalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalMember_lbl" xml:lang="en-US">Total [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalMember" xlink:to="mgic_TotalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnpaidDeferredRevenuesMember" xlink:href="mgic-20231231.xsd#mgic_UnpaidDeferredRevenuesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnpaidDeferredRevenuesMember_lbl" xml:lang="en-US">Unpaid deferred revenues [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnpaidDeferredRevenuesMember" xlink:to="mgic_UnpaidDeferredRevenuesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AllowancesForCreditLossMember" xlink:href="mgic-20231231.xsd#mgic_AllowancesForCreditLossMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AllowancesForCreditLossMember_lbl" xml:lang="en-US">Allowance for credit losses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowancesForCreditLossMember" xlink:to="mgic_AllowancesForCreditLossMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeReceivablesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeReceivablesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeReceivablesMember_lbl" xml:lang="en-US">Total trade receivables, net [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivablesMember" xlink:to="ifrs-full_TradeReceivablesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SellingAndMarketingExpensesMember" xlink:href="mgic-20231231.xsd#mgic_SellingAndMarketingExpensesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SellingAndMarketingExpensesMember_lbl" xml:lang="en-US">Selling and marketing expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpensesMember" xlink:to="mgic_SellingAndMarketingExpensesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl" xml:lang="en-US">General and administrative expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnallocatedExpenseMember" xlink:href="mgic-20231231.xsd#mgic_UnallocatedExpenseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnallocatedExpenseMember_lbl" xml:lang="en-US">Unallocated expense [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnallocatedExpenseMember" xlink:to="mgic_UnallocatedExpenseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_USCountryMember" xlink:href="mgic-20231231.xsd#mgic_USCountryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_USCountryMember_lbl" xml:lang="en-US">United States [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USCountryMember" xlink:to="mgic_USCountryMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_USCountryMember_lbl0" xml:lang="en-US">US [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USCountryMember" xlink:to="mgic_USCountryMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="mgic_USCountryMember_lbl1" xml:lang="en-US">U.S [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USCountryMember" xlink:to="mgic_USCountryMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ILMember" xlink:href="mgic-20231231.xsd#mgic_ILMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ILMember_lbl" xml:lang="en-US">IL [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ILMember" xlink:to="mgic_ILMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_ILMember_lbl0" xml:lang="en-US">Israeli [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ILMember" xlink:to="mgic_ILMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_EuropeCountryMember" xlink:href="mgic-20231231.xsd#mgic_EuropeCountryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EuropeCountryMember_lbl" xml:lang="en-US">Europe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EuropeCountryMember" xlink:to="mgic_EuropeCountryMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_JPMember" xlink:href="mgic-20231231.xsd#mgic_JPMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_JPMember_lbl" xml:lang="en-US">Japan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_JPMember" xlink:to="mgic_JPMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_JPMember_lbl0" xml:lang="en-US">JP [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_JPMember" xlink:to="mgic_JPMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US">Categories of related parties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestRateBenchmarksAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestRateBenchmarksAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateBenchmarksAxis_lbl" xml:lang="en-US">Interest rate benchmarks [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateBenchmarksAxis" xlink:to="ifrs-full_InterestRateBenchmarksAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LegalEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedUsefulLives" xlink:href="mgic-20231231.xsd#mgic_EstimatedUsefulLives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedUsefulLives_lbl" xml:lang="en-US">Estimated useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLives" xlink:to="mgic_EstimatedUsefulLives_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US">General and administrative</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xml:lang="en-US">Percentage of acquisition interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US">Total consideration amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashTransferred" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashTransferred"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashTransferred_lbl" xml:lang="en-US">Cash payment (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ContingentConsiderationAmount" xlink:href="mgic-20231231.xsd#mgic_ContingentConsiderationAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ContingentConsiderationAmount_lbl" xml:lang="en-US">Contingent consideration amount (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ContingentConsiderationAmount" xlink:to="mgic_ContingentConsiderationAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CompetitiveDigitalEcosystem" xlink:href="mgic-20231231.xsd#mgic_CompetitiveDigitalEcosystem"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl" xml:lang="en-US">Competitive digital ecosystem</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ClosingPayment" xlink:href="mgic-20231231.xsd#mgic_ClosingPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ClosingPayment_lbl" xml:lang="en-US">Closing payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ClosingPayment" xlink:to="mgic_ClosingPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdvancePaymentForFutureAcquisition" xlink:href="mgic-20231231.xsd#mgic_AdvancePaymentForFutureAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdvancePaymentForFutureAcquisition_lbl" xml:lang="en-US">Advance payment for future acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdvancePaymentForFutureAcquisition" xlink:to="mgic_AdvancePaymentForFutureAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfSharesHoldingPercentage" xlink:href="mgic-20231231.xsd#mgic_PurchaseOfSharesHoldingPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfSharesHoldingPercentage_lbl" xml:lang="en-US">Share purchase holding percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesHoldingPercentage" xlink:to="mgic_PurchaseOfSharesHoldingPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl" xml:lang="en-US">Fair value of acquisition date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:to="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xml:lang="en-US">Fair value of financial liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl" xml:lang="en-US">Net working capital adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:to="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ConsiderationPaidReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ConsiderationPaidReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ConsiderationPaidReceived_lbl" xml:lang="en-US">Consideration paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsiderationPaidReceived" xlink:to="ifrs-full_ConsiderationPaidReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoanAgreementDescription" xlink:href="mgic-20231231.xsd#mgic_LoanAgreementDescription"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoanAgreementDescription_lbl" xml:lang="en-US">Loan agreement, description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherEquityInterest" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherEquityInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherEquityInterest_lbl" xml:lang="en-US">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEquityInterest" xlink:to="ifrs-full_OtherEquityInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialDebtsNotExceedPercentage" xlink:href="mgic-20231231.xsd#mgic_FinancialDebtsNotExceedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl" xml:lang="en-US">Financial debts not exceed percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xml:lang="en-US">Acquired services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:to="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xml:lang="en-US">Other receivables balances due parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xml:lang="en-US">Trade payables balances due parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfLeaseExpiring" xlink:href="mgic-20231231.xsd#mgic_DescriptionOfLeaseExpiring"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfLeaseExpiring_lbl" xml:lang="en-US">Lease periods expiring</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfLeaseExpiring" xlink:to="mgic_DescriptionOfLeaseExpiring_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesExtendToAdditionalYears" xlink:href="mgic-20231231.xsd#mgic_LeasesExtendToAdditionalYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeasesExtendToAdditionalYears_lbl" xml:lang="en-US">Additional lease years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesExtendToAdditionalYears" xlink:to="mgic_LeasesExtendToAdditionalYears_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl" xml:lang="en-US">Expiry dates and renewal options, description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions" xlink:to="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseOptionToTerminate" xlink:href="mgic-20231231.xsd#mgic_LeaseOptionToTerminate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseOptionToTerminate_lbl" xml:lang="en-US">Terminate lease, term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseOptionToTerminate" xlink:to="mgic_LeaseOptionToTerminate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseTerm" xlink:href="mgic-20231231.xsd#mgic_LeaseTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseTerm_lbl" xml:lang="en-US">Operating lease term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseTerm" xlink:to="mgic_LeaseTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xml:lang="en-US">Reserved ordinary shares for issuance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:to="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:href="mgic-20231231.xsd#mgic_AggregateOrdinarySharesAvailableForFutureGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl" xml:lang="en-US">Aggregate ordinary shares available for future grants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption" xlink:href="mgic-20231231.xsd#mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl" xml:lang="en-US">Option grant is exercisable</label>
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    <loc xlink:type="locator" xlink:label="mgic_ExerciseOptionVestLife" xlink:href="mgic-20231231.xsd#mgic_ExerciseOptionVestLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExerciseOptionVestLife_lbl" xml:lang="en-US">Options vest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpectedDividendShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted_lbl" xml:lang="en-US">Expected dividend assumption</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:href="mgic-20231231.xsd#mgic_TotalIntrinsicValueOfOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl" xml:lang="en-US">Total intrinsic value of options exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfOptionShares" xlink:href="mgic-20231231.xsd#mgic_PurchaseOfOptionShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfOptionShares_lbl" xml:lang="en-US">Options to purchase its shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfOptionShares" xlink:to="mgic_PurchaseOfOptionShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfShares" xlink:href="mgic-20231231.xsd#mgic_PurchaseOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfShares_lbl" xml:lang="en-US">Purchase of shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExercisePriceOfOutstandingShareOptions2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExercisePriceOfOutstandingShareOptions2019_lbl" xml:lang="en-US">Exercise price per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:to="ifrs-full_ExercisePriceOfOutstandingShareOptions2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromExerciseOfWarrants" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromExerciseOfWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromExerciseOfWarrants_lbl" xml:lang="en-US">Exercise amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfWarrants" xlink:to="ifrs-full_ProceedsFromExerciseOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en-US">Options have fully vested upon their grant (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:href="mgic-20231231.xsd#mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl" xml:lang="en-US">Unrecognized compensation cost related to non-vested options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:href="mgic-20231231.xsd#mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl" xml:lang="en-US">Weighted average period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:to="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans_lbl" xml:lang="en-US">Severance expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AnnualCompensationPercentage" xlink:href="mgic-20231231.xsd#mgic_AnnualCompensationPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AnnualCompensationPercentage_lbl" xml:lang="en-US">Annual compensation percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeContributionsPercentage" xlink:href="mgic-20231231.xsd#mgic_EmployeeContributionsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EmployeeContributionsPercentage_lbl" xml:lang="en-US">Employee contributions percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeContributionsPercentage" xlink:to="mgic_EmployeeContributionsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseAmount" xlink:href="mgic-20231231.xsd#mgic_LeaseAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseAmount_lbl" xml:lang="en-US">Lease cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseAmount" xlink:to="mgic_LeaseAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepositsFromBanks" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepositsFromBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Cash" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US">Won damages</label>
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    <loc xlink:type="locator" xlink:label="mgic_LossContingencyDamagesSoughtValues" xlink:href="mgic-20231231.xsd#mgic_LossContingencyDamagesSoughtValues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LossContingencyDamagesSoughtValues_lbl" xml:lang="en-US">Filed lawsuit seeking damages (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LossContingencyDamagesSoughtValues" xlink:to="mgic_LossContingencyDamagesSoughtValues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DividendDistributed" xlink:href="mgic-20231231.xsd#mgic_DividendDistributed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DividendDistributed_lbl" xml:lang="en-US">Dividend distributed, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendDistributed" xlink:to="mgic_DividendDistributed_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl" xml:lang="en-US">Dividend distribution per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsPayable_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPayable" xlink:to="ifrs-full_DividendsPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ApplicableTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ApplicableTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US">Corporate tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxRateEffectFromChangeInTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xml:lang="en-US">Preferred tax rate percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxRateEffectOfTaxLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses_lbl" xml:lang="en-US">Tax rate percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfTaxLosses" xlink:to="ifrs-full_TaxRateEffectOfTaxLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AnnualRevenuesPercentage" xlink:href="mgic-20231231.xsd#mgic_AnnualRevenuesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AnnualRevenuesPercentage_lbl" xml:lang="en-US">Annual revenues percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualRevenuesPercentage" xlink:to="mgic_AnnualRevenuesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ConsolidatedRevenues" xlink:href="mgic-20231231.xsd#mgic_ConsolidatedRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ConsolidatedRevenues_lbl" xml:lang="en-US">Consolidated revenues (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsolidatedRevenues" xlink:to="mgic_ConsolidatedRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedTaxExemptEarnings" xlink:href="mgic-20231231.xsd#mgic_AccumulatedTaxExemptEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl" xml:lang="en-US">Total accumulated tax-exempt earnings amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedTaxExemptEarnings" xlink:to="mgic_AccumulatedTaxExemptEarnings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxExpenses" xlink:href="mgic-20231231.xsd#mgic_TaxExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxExpenses_lbl" xml:lang="en-US">Tax expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxExpenses" xlink:to="mgic_TaxExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AverageEffectiveTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AverageEffectiveTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en-US">Least percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageEffectiveTaxRate" xlink:to="ifrs-full_AverageEffectiveTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentRestrictedCashAndCashEquivalents"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
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    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock" xlink:href="mgic-20231231.xsd#mgic_DescriptionOfConcentrationOfCreditRiskTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock_lbl" xml:lang="en-US">Concentration of credit risk</label>
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    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfReclassificationOfPriorYearsPresentation" xlink:href="mgic-20231231.xsd#mgic_DescriptionOfReclassificationOfPriorYearsPresentation"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US">Capitalized Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_KMTMember" xlink:href="mgic-20231231.xsd#mgic_KMTMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_KMTMember_lbl" xml:lang="en-US">KMT [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_KMTMember" xlink:to="mgic_KMTMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ControllingShareholderMember" xlink:href="mgic-20231231.xsd#mgic_ControllingShareholderMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ControllingShareholderMember_lbl" xml:lang="en-US">Controlling Shareholder [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ControllingShareholderMember" xlink:to="mgic_ControllingShareholderMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_StockOptionPlansOfTheCompanyMember" xlink:href="mgic-20231231.xsd#mgic_StockOptionPlansOfTheCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_StockOptionPlansOfTheCompanyMember_lbl" xml:lang="en-US">Stock Option Plans of the Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlansOfTheCompanyMember" xlink:to="mgic_StockOptionPlansOfTheCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MajorCustomersMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MajorCustomersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MajorCustomersMember_lbl" xml:lang="en-US">Customers [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorCustomersMember" xlink:to="ifrs-full_MajorCustomersMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomersoneMember" xlink:href="mgic-20231231.xsd#mgic_CustomersoneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomersoneMember_lbl" xml:lang="en-US">Customer One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersoneMember" xlink:to="mgic_CustomersoneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BEPSMember" xlink:href="mgic-20231231.xsd#mgic_BEPSMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_BEPSMember_lbl" xml:lang="en-US">BEPS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BEPSMember" xlink:to="mgic_BEPSMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SPTEMember" xlink:href="mgic-20231231.xsd#mgic_SPTEMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SPTEMember_lbl" xml:lang="en-US">SPTE [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SPTEMember" xlink:to="mgic_SPTEMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FormulaTelecomSolutionsLtdMember" xlink:href="mgic-20231231.xsd#mgic_FormulaTelecomSolutionsLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FormulaTelecomSolutionsLtdMember_lbl" xml:lang="en-US">Formula Telecom Solutions, Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FormulaTelecomSolutionsLtdMember" xlink:to="mgic_FormulaTelecomSolutionsLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EnglandMember" xlink:href="mgic-20231231.xsd#mgic_EnglandMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EnglandMember_lbl" xml:lang="en-US">England [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EnglandMember" xlink:to="mgic_EnglandMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsMember" xlink:href="mgic-20231231.xsd#mgic_SubsequentEventsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SubsequentEventsMember_lbl" xml:lang="en-US">Subsequent Events [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsMember" xlink:to="mgic_SubsequentEventsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProductsAndServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xml:lang="en-US">Products and services [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en-US">Equity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_StatementOfChangesInEquityTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en-US">Statement of changes in equity [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_StatementOfChangesInEquityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en-US">Statement of changes in equity [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsTable" xlink:href="mgic-20231231.xsd#mgic_BusinessCombinationsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsTable_lbl" xml:lang="en-US">Business Combinations [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsTable" xlink:to="mgic_BusinessCombinationsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBusinessCombinationsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsLineItems_lbl" xml:lang="en-US">Business Combinations [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesTable" xlink:href="mgic-20231231.xsd#mgic_LeasesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesTable_lbl" xml:lang="en-US">Leases [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesTable" xlink:to="mgic_LeasesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesLineItems" xlink:href="mgic-20231231.xsd#mgic_LeasesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeasesLineItems_lbl" xml:lang="en-US">Leases [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesLineItems" xlink:to="mgic_LeasesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTable_lbl" xml:lang="en-US">Share Based Payments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTable" xlink:to="mgic_ShareBasedPaymentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsLineItems" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsLineItems_lbl" xml:lang="en-US">Share Based Payments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsLineItems" xlink:to="mgic_ShareBasedPaymentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xml:lang="en-US">Entity&apos;s total for business combinations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsTablesTable" xlink:href="mgic-20231231.xsd#mgic_BusinessCombinationsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsTablesTable_lbl" xml:lang="en-US">Business Combinations (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsTablesTable" xlink:to="mgic_BusinessCombinationsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsTablesLineItems" xlink:href="mgic-20231231.xsd#mgic_BusinessCombinationsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsTablesLineItems_lbl" xml:lang="en-US">Business Combinations (Tables) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsTablesLineItems" xlink:to="mgic_BusinessCombinationsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashandCashEquivalentsTablesTable" xlink:href="mgic-20231231.xsd#mgic_CashandCashEquivalentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashandCashEquivalentsTablesTable_lbl" xml:lang="en-US">Cash and Cash Equivalents (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashandCashEquivalentsTablesTable" xlink:to="mgic_CashandCashEquivalentsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashandCashEquivalentsTablesLineItems" xlink:href="mgic-20231231.xsd#mgic_CashandCashEquivalentsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashandCashEquivalentsTablesLineItems_lbl" xml:lang="en-US">Schedule Of Cash And Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashandCashEquivalentsTablesLineItems" xlink:to="mgic_CashandCashEquivalentsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueMeasurementTablesTable" xlink:href="mgic-20231231.xsd#mgic_FairValueMeasurementTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueMeasurementTablesTable_lbl" xml:lang="en-US">Fair Value Measurement (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueMeasurementTablesTable" xlink:to="mgic_FairValueMeasurementTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueMeasurementTablesLineItems" xlink:href="mgic-20231231.xsd#mgic_FairValueMeasurementTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueMeasurementTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Fair Value Measurement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueMeasurementTablesLineItems" xlink:to="mgic_FairValueMeasurementTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTablesTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTablesTable_lbl" xml:lang="en-US">Share Based Payments (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTablesTable" xlink:to="mgic_ShareBasedPaymentsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTablesLineItems" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Share Based Payment Arrangements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTablesLineItems" xlink:to="mgic_ShareBasedPaymentsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RangesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RangesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangesMember_lbl" xml:lang="en-US">Ranges [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xml:lang="en-US">Assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetTable" xlink:href="mgic-20231231.xsd#mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetTable_lbl" xml:lang="en-US">Material Accounting Policies (Details) - Schedule of Right-of-Use Assets by Class of Underlying Asset [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetTable" xlink:to="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetLineItems" xlink:href="mgic-20231231.xsd#mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetLineItems_lbl" xml:lang="en-US">Schedule of Quantitative Information About Right of Use Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetLineItems" xlink:to="mgic_MaterialAccountingPoliciesDetailsScheduleofRightofUseAssetsbyClassofUnderlyingAssetLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property, plant and equipment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesTable" xlink:href="mgic-20231231.xsd#mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesTable_lbl" xml:lang="en-US">Material Accounting Policies (Details) - Schedule of Estimated Useful Life of the Assets at Annual Rates [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesTable" xlink:to="mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesLineItems" xlink:href="mgic-20231231.xsd#mgic_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLifeoftheAssetsatAnnualRatesLineItems"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAssessmentForGoodwillImpairmentLineItems_lbl" xml:lang="en-US">Schedule of Assessment for Goodwill Impairment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAssessmentForGoodwillImpairmentLineItems" xlink:to="mgic_ScheduleOfAssessmentForGoodwillImpairmentLineItems_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsDetailsScheduleofShortTermDebtsTable" xlink:to="mgic_ShortTermDebtsDetailsScheduleofShortTermDebtsTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsDetailsScheduleofShortTermDebtsLineItems_lbl" xml:lang="en-US">Schedule of Short Term Debts [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsDetailsScheduleofShortTermDebtsLineItems" xlink:to="mgic_ShortTermDebtsDetailsScheduleofShortTermDebtsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedExpensesandOtherAccountsPayableDetailsScheduleofAccruedExpensesandOtherAccountsPayableTable" xlink:href="mgic-20231231.xsd#mgic_AccruedExpensesandOtherAccountsPayableDetailsScheduleofAccruedExpensesandOtherAccountsPayableTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedExpensesandOtherAccountsPayableDetailsScheduleofAccruedExpensesandOtherAccountsPayableTable_lbl" xml:lang="en-US">Accrued Expenses and Other Accounts Payable (Details) - Schedule of Accrued Expenses and Other Accounts Payable [Table]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleofLongTermLiabilitiesTable" xlink:to="mgic_LongTermDebtsDetailsScheduleofLongTermLiabilitiesTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLongTermLiabilitiesLineItems_lbl" xml:lang="en-US">Schedule of Long Term Liabilities [Line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLongTermLiabilitiesLineItems" xlink:to="mgic_ScheduleOfLongTermLiabilitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsDetailsScheduleofMaturityDatesTable" xlink:href="mgic-20231231.xsd#mgic_LongTermDebtsDetailsScheduleofMaturityDatesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsDetailsScheduleofMaturityDatesTable_lbl" xml:lang="en-US">Long Term Debts (Details) - Schedule of Maturity Dates [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleofMaturityDatesTable" xlink:to="mgic_LongTermDebtsDetailsScheduleofMaturityDatesTable_lbl"/>
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    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesTable" xlink:href="mgic-20231231.xsd#mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesTable" xlink:to="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesLineItems" xlink:href="mgic-20231231.xsd#mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesLineItems" xlink:to="mgic_LeasesDetailsScheduleofMaturityAnalysisofUndiscountedFutureLeasePaymentsforLeaseLiabilitiesLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofInformationonleasesTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of Information on leases [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofInformationonleasesTable" xlink:to="mgic_LeasesDetailsScheduleofInformationonleasesTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofInformationonleasesLineItems_lbl" xml:lang="en-US">Schedule of Information on leases [Line Items]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofWeightedAverageRemainingLeaseTermsLineItems" xlink:to="mgic_LeasesDetailsScheduleofWeightedAverageRemainingLeaseTermsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofRightofUseAssetsTable" xlink:href="mgic-20231231.xsd#mgic_LeasesDetailsScheduleofRightofUseAssetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofRightofUseAssetsTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of Right-of-Use Assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofRightofUseAssetsTable" xlink:to="mgic_LeasesDetailsScheduleofRightofUseAssetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofRightofUseAssetsLineItems" xlink:href="mgic-20231231.xsd#mgic_LeasesDetailsScheduleofRightofUseAssetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofRightofUseAssetsLineItems_lbl" xml:lang="en-US">Schedule of Right-of-Use Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofRightofUseAssetsLineItems" xlink:to="mgic_LeasesDetailsScheduleofRightofUseAssetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SharebasedPaymentArrangementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xml:lang="en-US">Share-based payment arrangements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of Employee Option Activity [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityLineItems" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityLineItems_lbl" xml:lang="en-US">Schedule of Employee Option Activity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofEmployeeOptionActivityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of Options Outstanding [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingLineItems" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingLineItems_lbl" xml:lang="en-US">Schedule of Options Outstanding [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofOptionsOutstandingLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofFairValueoftheOptionsGrantedUsingtheBinomialModelTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofFairValueoftheOptionsGrantedUsingtheBinomialModelTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofFairValueoftheOptionsGrantedUsingtheBinomialModelTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of Fair Value of the Options Granted Using the Binomial Model [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofFairValueoftheOptionsGrantedUsingtheBinomialModelTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofFairValueoftheOptionsGrantedUsingtheBinomialModelTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfFairValueOfTheOptionsGrantedUsingTheBinomialModelLineItems" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfFairValueOfTheOptionsGrantedUsingTheBinomialModelLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfFairValueOfTheOptionsGrantedUsingTheBinomialModelLineItems_lbl" xml:lang="en-US">Schedule of Fair Value of the Options Granted Using the Binomial Model [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfFairValueOfTheOptionsGrantedUsingTheBinomialModelLineItems" xlink:to="mgic_ScheduleOfFairValueOfTheOptionsGrantedUsingTheBinomialModelLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of Share-Based Payment Expense Related to Employee Stock Option [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionLineItems" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofShareBasedPaymentExpenseRelatedtoEmployeeStockOptionLineItems_lbl" xml:lang="en-US">Schedule of Share-Based Payment Expense Related to Employee Stock Option [Abstract]</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember"/>
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    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesTable" xlink:href="mgic-20231231.xsd#mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesTable"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesTable" xlink:to="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesLineItems" xlink:href="mgic-20231231.xsd#mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesLineItems" xlink:to="mgic_IncomeTaxDetailsScheduleofComponentsoftheCompanysDeferredTaxAssetsandLiabilitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RevenueRecognitionDetailsScheduleofDeferredRevenuesfromContractswithCustomersTable" xlink:href="mgic-20231231.xsd#mgic_RevenueRecognitionDetailsScheduleofDeferredRevenuesfromContractswithCustomersTable"/>
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    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofComputationofBasicandDilutedNetEarningsPerShareTable" xlink:href="mgic-20231231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofComputationofBasicandDilutedNetEarningsPerShareTable"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_SegmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SegmentsMember"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingSegmentsDetailsScheduleofReportedSegmentResultsofOperationTable" xlink:to="mgic_OperatingSegmentsDetailsScheduleofReportedSegmentResultsofOperationTable_lbl"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GeographicalAreasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xml:lang="en-US">Geographical areas [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingSegmentsDetailsScheduleofTotalRevenuesLineItems_lbl" xml:lang="en-US">Schedule of Total Revenues [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingSegmentsDetailsScheduleofTotalRevenuesLineItems" xlink:to="mgic_OperatingSegmentsDetailsScheduleofTotalRevenuesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingSegmentsDetailsScheduleofLongLivedAssetsTable" xlink:href="mgic-20231231.xsd#mgic_OperatingSegmentsDetailsScheduleofLongLivedAssetsTable"/>
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    <loc xlink:type="locator" xlink:label="mgic_MaterialAccountingPoliciesDetailsTable" xlink:href="mgic-20231231.xsd#mgic_MaterialAccountingPoliciesDetailsTable"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsDetailsTable_lbl" xml:lang="en-US">Business Combinations (Details) [Table]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsDetailsLineItems" xlink:to="mgic_BusinessCombinationsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember"/>
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    <loc xlink:type="locator" xlink:label="mgic_RelatedPartiesTransactionsDetailsTable" xlink:href="mgic-20231231.xsd#mgic_RelatedPartiesTransactionsDetailsTable"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RelatedPartiesTransactionsDetailsTable" xlink:to="mgic_RelatedPartiesTransactionsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RelatedPartiesTransactionsDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_RelatedPartiesTransactionsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RelatedPartiesTransactionsDetailsLineItems_lbl" xml:lang="en-US">Related Parties Transactions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RelatedPartiesTransactionsDetailsLineItems" xlink:to="mgic_RelatedPartiesTransactionsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsTable" xlink:href="mgic-20231231.xsd#mgic_LeasesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsTable_lbl" xml:lang="en-US">Leases (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsTable" xlink:to="mgic_LeasesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems_lbl" xml:lang="en-US">Leases [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:to="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsTable" xlink:href="mgic-20231231.xsd#mgic_ShareBasedPaymentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsTable_lbl" xml:lang="en-US">Share Based Payments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsTable" xlink:to="mgic_ShareBasedPaymentsDetailsTable_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShareBasedPaymentsLineItems_lbl0" xml:lang="en-US">Share Based Payments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsLineItems" xlink:to="mgic_ShareBasedPaymentsLineItems_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsandContingenciesDetailsTable" xlink:href="mgic-20231231.xsd#mgic_CommitmentsandContingenciesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsandContingenciesDetailsTable_lbl" xml:lang="en-US">Commitments and Contingencies (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsandContingenciesDetailsTable" xlink:to="mgic_CommitmentsandContingenciesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsandContingenciesDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_CommitmentsandContingenciesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsandContingenciesDetailsLineItems_lbl" xml:lang="en-US">Commitments and Contingencies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsandContingenciesDetailsLineItems" xlink:to="mgic_CommitmentsandContingenciesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestRateBenchmarksMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestRateBenchmarksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateBenchmarksMember_lbl" xml:lang="en-US">Interest rate benchmarks [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateBenchmarksMember" xlink:to="ifrs-full_InterestRateBenchmarksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsTable" xlink:href="mgic-20231231.xsd#mgic_IncomeTaxDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeTaxDetailsTable_lbl" xml:lang="en-US">Income Tax (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsTable" xlink:to="mgic_IncomeTaxDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_IncomeTaxDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeTaxDetailsLineItems_lbl" xml:lang="en-US">Income Tax (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsLineItems" xlink:to="mgic_IncomeTaxDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RevenueRecognitionDetailsTable" xlink:href="mgic-20231231.xsd#mgic_RevenueRecognitionDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RevenueRecognitionDetailsTable_lbl" xml:lang="en-US">Revenue Recognition (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RevenueRecognitionDetailsTable" xlink:to="mgic_RevenueRecognitionDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RevenueRecognitionDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_RevenueRecognitionDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RevenueRecognitionDetailsLineItems_lbl" xml:lang="en-US">Revenue Recognition [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RevenueRecognitionDetailsLineItems" xlink:to="mgic_RevenueRecognitionDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingSegmentsDetailsTable" xlink:href="mgic-20231231.xsd#mgic_OperatingSegmentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingSegmentsDetailsTable_lbl" xml:lang="en-US">Operating Segments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingSegmentsDetailsTable" xlink:to="mgic_OperatingSegmentsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingSegmentsDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_OperatingSegmentsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingSegmentsDetailsLineItems_lbl" xml:lang="en-US">Operating Segments (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingSegmentsDetailsLineItems" xlink:to="mgic_OperatingSegmentsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NonadjustingEventsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xml:lang="en-US">Non-adjusting events after reporting period [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsDetailsTable" xlink:href="mgic-20231231.xsd#mgic_SubsequentEventsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsDetailsTable_lbl" xml:lang="en-US">Subsequent Events (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsDetailsTable" xlink:to="mgic_SubsequentEventsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsDetailsLineItems" xlink:href="mgic-20231231.xsd#mgic_SubsequentEventsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsDetailsLineItems_lbl" xml:lang="en-US">Subsequent Events [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsDetailsLineItems" xlink:to="mgic_SubsequentEventsDetailsLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl1" xml:lang="en-US">Accumulated amortization and impairment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl0" xml:lang="en-US">Amount of accumulated tax exempt earnings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedTaxExemptEarnings" xlink:to="mgic_AccumulatedTaxExemptEarnings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquiredTechnology_lbl0" xml:lang="en-US">Acquired technology.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl0" xml:lang="en-US">The amount of acquisition of redeemable non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:to="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfSubsidiaries_lbl0" xml:lang="en-US">The amount of acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiaries" xlink:to="mgic_AcquisitionOfSubsidiaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfSubsidiariesCosts_lbl0" xml:lang="en-US">Acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiariesCosts" xlink:to="mgic_AcquisitionOfSubsidiariesCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl0" xml:lang="en-US">Acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl0" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl0" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations amortization.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable_lbl0" xml:lang="en-US">Other current and long-term accounts receivable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable" xlink:to="mgic_AdjustmentsForDecreaseIncreaseInOtherCurrentAndLongtermAccountsReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues_lbl0" xml:lang="en-US">Deferred revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues" xlink:to="mgic_AdjustmentsForIncreaseDecreaseInDeferredRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdvancePaymentForFutureAcquisition_lbl0" xml:lang="en-US">Advance payment for future acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdvancePaymentForFutureAcquisition" xlink:to="mgic_AdvancePaymentForFutureAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AggregateAmount_lbl0" xml:lang="en-US">aggregate amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateAmount" xlink:to="mgic_AggregateAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl0" xml:lang="en-US">Number of aggregate ordinary shares available for future grants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AllowanceAccountForCreditLosses_lbl0" xml:lang="en-US">The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowanceAccountForCreditLosses" xlink:to="mgic_AllowanceAccountForCreditLosses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl0" xml:lang="en-US">The amount of amortization of interest and exchange rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration" xlink:to="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl0" xml:lang="en-US">Amortization of premium and accrued interest on debt instruments at fair value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AmortizationRecognized_lbl0" xml:lang="en-US">Amortization recognized in the year.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationRecognized" xlink:to="mgic_AmortizationRecognized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AnnualCompensationPercentage_lbl0" xml:lang="en-US">Annual compensation percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AnnualRevenuesPercentage_lbl0" xml:lang="en-US">Annual revenues, percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualRevenuesPercentage" xlink:to="mgic_AnnualRevenuesPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AssetsInRespectOfBusinessCombinations_lbl0" xml:lang="en-US">Assets in respect of business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AssetsInRespectOfBusinessCombinations" xlink:to="mgic_AssetsInRespectOfBusinessCombinations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl0" xml:lang="en-US">Capitalized development costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedSoftwareCosts_lbl0" xml:lang="en-US">Capitalized software costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts_lbl0" xml:lang="en-US">Capitalized Software development costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:to="mgic_CapitalizedSoftwareDevelopmentCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal_lbl0" xml:lang="en-US">Cash and deposits for immediate withdrawal.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashAndDepositsForImmediateWithdrawal" xlink:to="mgic_CashAndDepositsForImmediateWithdrawal_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies_lbl0" xml:lang="en-US">Balance nominated in other currencies.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies" xlink:to="mgic_CashEquivalentsBalanceNominatedInOtherCurrencies_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit_lbl0" xml:lang="en-US">Cash equivalents in NIS-denominated deposit.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:to="mgic_CashEquivalentsInNISdenominatedDeposit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl0" xml:lang="en-US">Cash paid due to exercise of put option by non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl0" xml:lang="en-US">Cash paid in conjunction with deferred payments and contingent liabilities related to business.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:to="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions_lbl0" xml:lang="en-US">The amount of change in valuation of contingent consideration related to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_ChangeInValuationOfContingentConsiderationRelatedToAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl0" xml:lang="en-US">Changes in value of short-term and long-term loans from banks and others and deposits, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:to="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ClosingPayment_lbl0" xml:lang="en-US">Closing payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ClosingPayment" xlink:to="mgic_ClosingPayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CommitmentsAndContingencies1_lbl0" xml:lang="en-US">The amount of commitments and contingencies.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsAndContingencies1" xlink:to="mgic_CommitmentsAndContingencies1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl0" xml:lang="en-US">Competitive digital ecosystem.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ConsolidatedRevenues_lbl0" xml:lang="en-US">Represents the amount of consolidated revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsolidatedRevenues" xlink:to="mgic_ConsolidatedRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ContingentConsiderationAmount_lbl0" xml:lang="en-US">Contingent consideration amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ContingentConsiderationAmount" xlink:to="mgic_ContingentConsiderationAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CostsAtEnding_lbl0" xml:lang="en-US">Balance as of ending.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostsAtEnding" xlink:to="mgic_CostsAtEnding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl0" xml:lang="en-US">The amount recognised as of the acquisition date for current assets acquired in a business combination.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:to="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CurrentFederalTaxExpenseBenefi_lbl0" xml:lang="en-US">Amount of domestic.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentFederalTaxExpenseBenefi" xlink:to="mgic_CurrentFederalTaxExpenseBenefi_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CustomerRelationship_lbl0" xml:lang="en-US">Customer relationship.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationship" xlink:to="mgic_CustomerRelationship_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl1" xml:lang="en-US">Contractual interest rate for funds borrowed, under the debt agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl0" xml:lang="en-US">Deferred and contingent liabilities assumed in current year business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:to="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredConsideration_lbl1" xml:lang="en-US">The amount of  deferred consideration.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredConsideration" xlink:to="mgic_DeferredConsideration_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredDomesticIncomeTaxExpenseBenefi_lbl0" xml:lang="en-US">Domestic.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredDomesticIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredDomesticIncomeTaxExpenseBenefi_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl0" xml:lang="en-US">Foreign.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl0" xml:lang="en-US">Total amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredRevenuesAndCustomerAdvancesCurrent_lbl0" xml:lang="en-US">Deferred revenues and customer advances.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenuesAndCustomerAdvancesCurrent" xlink:to="mgic_DeferredRevenuesAndCustomerAdvancesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DerivativeCurrenciesBought_lbl1" xml:lang="en-US">Derivative currencies bought.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock_lbl0" xml:lang="en-US">Description of concentration of credit risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock" xlink:to="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl0" xml:lang="en-US">Description of consolidated financial statement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock" xlink:to="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfLeaseExpiring_lbl0" xml:lang="en-US">Original lease periods.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfLeaseExpiring" xlink:to="mgic_DescriptionOfLeaseExpiring_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl0" xml:lang="en-US">Description of reclassification of prior years presentation.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfReclassificationOfPriorYearsPresentation" xlink:to="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl0" xml:lang="en-US">Description of use of estimates judgment and assumption.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock" xlink:to="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl0" xml:lang="en-US">The disclosure of a other accounts receivable and prepaid expenses table tex block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:to="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfAccumulatedOtherComprehensiveIncomeLossExplanatory_lbl0" xml:lang="en-US">The disclosure of accumulated other comprehensive income (loss).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfAccumulatedOtherComprehensiveIncomeLossExplanatory" xlink:to="mgic_DisclosureOfAccumulatedOtherComprehensiveIncomeLossExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory_lbl0" xml:lang="en-US">The disclosure of components of the company&#8217;s deferred tax assets and liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory" xlink:to="mgic_DisclosureOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory_lbl0" xml:lang="en-US">The disclosure of deferred consideration in respect of the business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory" xlink:to="mgic_DisclosureOfDeferredConsiderationInRespectOfTheBusinessCombinationsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl0" xml:lang="en-US">Disclosure of estimated fair values of the assets acquired and liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:to="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisExplanatory_lbl0" xml:lang="en-US">The disclosure of financial assets and liabilities measured at fair value on a recurring basis.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisExplanatory" xlink:to="mgic_DisclosureOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl0" xml:lang="en-US">Disclosure of income tax.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:to="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfInformationOnLeasesExplanatory_lbl0" xml:lang="en-US">The disclosure of information on leases.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfInformationOnLeasesExplanatory" xlink:to="mgic_DisclosureOfInformationOnLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl0" xml:lang="en-US">The disclosure of liabilities in respect of the business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory" xlink:to="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory_lbl0" xml:lang="en-US">The disclosure of long-lived assets are located</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory" xlink:to="mgic_DisclosureOfLongLivedAssetsAreLocatedExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfMaturityDatesExplanatory_lbl0" xml:lang="en-US">The disclosure of maturity dates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfMaturityDatesExplanatory" xlink:to="mgic_DisclosureOfMaturityDatesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory_lbl0" xml:lang="en-US">The disclosure of revenue by timing of revenue recognition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory" xlink:to="mgic_DisclosureOfRevenueByTimingOfRevenueRecognitionExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl0" xml:lang="en-US">The disclosure of right-of-use assets by class of underlying asset.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory" xlink:to="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory_lbl0" xml:lang="en-US">The disclosure of selling and marketing expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory" xlink:to="mgic_DisclosureOfSellingAndMarketingExpensesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl0" xml:lang="en-US">The disclosure of share-based payment expense related to employee stock option.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory" xlink:to="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisposalPropertyPlantAndEquipment_lbl0" xml:lang="en-US">The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalPropertyPlantAndEquipment" xlink:to="mgic_DisposalPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EffectOfDilutiveSecurities_lbl0" xml:lang="en-US">Number of shares effect of dilutive securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfDilutiveSecurities" xlink:to="mgic_EffectOfDilutiveSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl0" xml:lang="en-US">Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:to="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EmployeeContributionsPercentage_lbl0" xml:lang="en-US">Employee contributions percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeContributionsPercentage" xlink:to="mgic_EmployeeContributionsPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EmployeesAndPayrollAccruals_lbl0" xml:lang="en-US">Employees and payroll accruals.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeesAndPayrollAccruals" xlink:to="mgic_EmployeesAndPayrollAccruals_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EqualInstallments_lbl0" xml:lang="en-US">Equal installments amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EqualInstallments" xlink:to="mgic_EqualInstallments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl0" xml:lang="en-US">Estimated useful life of assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLifeOfAsset" xlink:to="mgic_EstimatedUsefulLifeOfAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedUsefulLives_lbl0" xml:lang="en-US">Estimated useful lives.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLives" xlink:to="mgic_EstimatedUsefulLives_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ExerciseOfOptions_lbl0" xml:lang="en-US">The amount of exercise of options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOfOptions" xlink:to="mgic_ExerciseOfOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ExerciseOptionVestLife_lbl0" xml:lang="en-US">Option vest life of outstanding share options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl0" xml:lang="en-US">Fair value of option at the grant date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl0" xml:lang="en-US">Non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:to="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl0" xml:lang="en-US">The percentage of financial debts not exceed.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration_lbl0" xml:lang="en-US">The amount of foreign currency translation adjustments in contingent consideration.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration" xlink:to="mgic_ForeignCurrencyTranslationAdjustmentsRelatedToContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ForeignTaxExpenseBenefit_lbl0" xml:lang="en-US">Amount of foreign.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignTaxExpenseBenefit" xlink:to="mgic_ForeignTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl1" xml:lang="en-US">Goodwill and other intangible assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_GrossDeferredTaxAssets_lbl0" xml:lang="en-US">Gross deferred tax assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GrossDeferredTaxAssets" xlink:to="mgic_GrossDeferredTaxAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_GrossDeferredTaxLiabilities_lbl0" xml:lang="en-US">Gross deferred tax liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GrossDeferredTaxLiabilities" xlink:to="mgic_GrossDeferredTaxLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncomeTaxExpensesBenefit_lbl0" xml:lang="en-US">Total.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl0" xml:lang="en-US">The amount of increase in deferred consideration due to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInDeferredConsiderationDueToAcquisitions" xlink:to="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl0" xml:lang="en-US">Increase in valuation of consideration related to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssets_lbl0" xml:lang="en-US">Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssets" xlink:to="mgic_IntangibleAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl1" xml:lang="en-US">Intangible assets, net of deferred tax liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl0" xml:lang="en-US">Intangible assets, net of deferred taxes.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeaseAmount_lbl0" xml:lang="en-US">Amount of lease cost recognized by lessee for lease contract.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseAmount" xlink:to="mgic_LeaseAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeaseOptionToTerminate_lbl0" xml:lang="en-US">Description of terms and conditions of option to terminate lessee&apos;s operating lease. Includes, but is not limited to, information about option recognized as part of right-of-use asset and lease liability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseOptionToTerminate" xlink:to="mgic_LeaseOptionToTerminate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeaseTerm_lbl0" xml:lang="en-US">Leases term.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseTerm" xlink:to="mgic_LeaseTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombination_lbl0" xml:lang="en-US">Liability in respect of business combination.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombination" xlink:to="mgic_LiabilityInRespectOfBusinessCombination_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl0" xml:lang="en-US">The amount of liability in respect of business combinations current.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl0" xml:lang="en-US">The amount of liability in respect of business combinations noncurrent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LoanAgreementDescription_lbl0" xml:lang="en-US">loan agreement description.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LoansToRelatedParty_lbl0" xml:lang="en-US">Loans to related party.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansToRelatedParty" xlink:to="mgic_LoansToRelatedParty_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LonglivedAssets_lbl0" xml:lang="en-US">Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LossContingencyDamagesSoughtValues_lbl0" xml:lang="en-US">The value (monetary amount) of the award the plaintiff seeks in the legal matter.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LossContingencyDamagesSoughtValues" xlink:to="mgic_LossContingencyDamagesSoughtValues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_MarketableSecuritie_lbl0" xml:lang="en-US">Marketable securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MarketableSecuritie" xlink:to="mgic_MarketableSecuritie_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl0" xml:lang="en-US">Net assets, excluding acquired cash.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingAcquiredCash" xlink:to="mgic_NetAssetsExcludingAcquiredCash_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl0" xml:lang="en-US">Net income attributable to magic shareholders.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:to="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl0" xml:lang="en-US">Net liabilities excluding of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl0" xml:lang="en-US">Represents the amount of non-controlling interests arising from initially consolidated companies.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:to="mgic_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OperatingLossCarryforwardsAmount_lbl0" xml:lang="en-US">Operating loss carryforwards amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLossCarryforwardsAmount" xlink:to="mgic_OperatingLossCarryforwardsAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption" xlink:to="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesParValue_lbl0" xml:lang="en-US">The value of ordinary shares, par value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesParValue" xlink:to="mgic_OrdinarySharesParValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesAuthorized_lbl0" xml:lang="en-US">The amount of ordinary shares, shares authorized.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesAuthorized" xlink:to="mgic_OrdinarySharesSharesAuthorized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesIssued_lbl0" xml:lang="en-US">The amount of ordinary shares issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl0" xml:lang="en-US">The amount of ordinary shares outstanding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentOfDeferredConsideration_lbl0" xml:lang="en-US">The amount of payment of deferred consideration.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfDeferredConsideration" xlink:to="mgic_PaymentOfDeferredConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl0" xml:lang="en-US">Payments for business acquisitions, net of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:to="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl0" xml:lang="en-US">Payments of deferred and contingent consideration related to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany_lbl0" xml:lang="en-US">Represents the amount of payments to former shareholders of consolidated company.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany" xlink:to="mgic_PaymentsToFormerShareholdersOfConsolidatedCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PercentageOfPerformanceObligations_lbl0" xml:lang="en-US">Percentage of performance obligations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PercentageOfPerformanceObligations" xlink:to="mgic_PercentageOfPerformanceObligations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ProductsAndServicesTransferredOverTime_lbl0" xml:lang="en-US">Amount of products and services transferred over time.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsAndServicesTransferredOverTime" xlink:to="mgic_ProductsAndServicesTransferredOverTime_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ProductsTransferredAtAPointInTime_lbl0" xml:lang="en-US">The amount of products transferred at a point in time.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsTransferredAtAPointInTime" xlink:to="mgic_ProductsTransferredAtAPointInTime_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PropertyPlantAndEquipmentsGross_lbl1" xml:lang="en-US">The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantAndEquipmentsGross" xlink:to="mgic_PropertyPlantAndEquipmentsGross_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_lbl0" xml:lang="en-US">Represents the amount of purchase of financial assets measured at fair value through other comprehensive income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfOptionShares_lbl0" xml:lang="en-US">Purchase of option shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfOptionShares" xlink:to="mgic_PurchaseOfOptionShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfShares_lbl0" xml:lang="en-US">Purchase of shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfSharesHoldingPercentage_lbl0" xml:lang="en-US">Purchase of shares holding percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesHoldingPercentage" xlink:to="mgic_PurchaseOfSharesHoldingPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl0" xml:lang="en-US">The amount of non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl0" xml:lang="en-US">Put options of non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl0" xml:lang="en-US">The amount of put options of non-controlling interests noncurrent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl0" xml:lang="en-US">The amount of put options of non-controlling interests liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl0" xml:lang="en-US">Redeemable non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterest" xlink:to="mgic_RedeemableNoncontrollingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ReportableBusinessSegments_lbl0" xml:lang="en-US">Number of reportable business segments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ReportableBusinessSegments" xlink:to="mgic_ReportableBusinessSegments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ResearchAndDevelopmentExpenseGross_lbl0" xml:lang="en-US">Represents the gross research and development expense.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ResearchAndDevelopmentExpenseGross" xlink:to="mgic_ResearchAndDevelopmentExpenseGross_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl0" xml:lang="en-US">The amount of settlement of put options over non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:to="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl0" xml:lang="en-US">Amount of share based compensation aggregate intrinsic value exercisable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:to="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl1" xml:lang="en-US">Amount of share based compensation aggregate intrinsic value outstanding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_Subcontractors_lbl0" xml:lang="en-US">The amount of subcontractors.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxExpenses_lbl0" xml:lang="en-US">Tax expenses.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxLossCarryforwards_lbl0" xml:lang="en-US">Tax loss carryforwards.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TerminalValueGrowthRate_lbl0" xml:lang="en-US">Percentage of growth rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminalValueGrowthRate" xlink:to="mgic_TerminalValueGrowthRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl0" xml:lang="en-US">Amount of total intrinsic value of options exercised.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalLongTermBorrowings_lbl0" xml:lang="en-US">Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl0" xml:lang="en-US">The amount of trade receivables, net of allowance.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TradeReceivablesNetOfAllowance" xlink:to="mgic_TradeReceivablesNetOfAllowance_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl0" xml:lang="en-US">Tax expense other than income tax expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl0" xml:lang="en-US">Amount of unrecognized compensation cost related to non-vested options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl0" xml:lang="en-US">Percentage of weighted average cost of capital.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl0" xml:lang="en-US">The weighted average exercise price of other equity instruments (ie other than share options) exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]&#xd;
 References</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:to="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageExpectedExerciseFactor_lbl0" xml:lang="en-US">The weighted average expected exercise factor.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExpectedExerciseFactor" xlink:to="mgic_WeightedAverageExpectedExerciseFactor_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:to="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:to="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration_lbl0" xml:lang="en-US">The amount of working capital adjustments and other related to deferred consideration.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration" xlink:to="mgic_WorkingCapitalAdjustmentsAndOtherRelatedToDeferredConsideration_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_AddressTypeDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AddressTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AddressTypeDomain_lbl" xml:lang="en-US">Address Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AddressTypeDomain" xlink:to="dei_AddressTypeDomain_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoanAgreementDescription_lbl1" xml:lang="en-US">Loan Agreement Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract103_lbl0" xml:lang="en-US">Unlabeled Abstract103</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract103" xlink:to="mgic_UnlabeledAbstract103_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract102_lbl0" xml:lang="en-US">Unlabeled Abstract102</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract102" xlink:to="mgic_UnlabeledAbstract102_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract101_lbl0" xml:lang="en-US">Unlabeled Abstract101</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract101" xlink:to="mgic_UnlabeledAbstract101_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of redesignated financial assets and liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract100_lbl0" xml:lang="en-US">Unlabeled Abstract100</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract100" xlink:to="mgic_UnlabeledAbstract100_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract107_lbl0" xml:lang="en-US">Unlabeled Abstract107</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract107" xlink:to="mgic_UnlabeledAbstract107_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract106_lbl0" xml:lang="en-US">Unlabeled Abstract106</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract106" xlink:to="mgic_UnlabeledAbstract106_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0" xml:lang="en-US">Adjustments for increase (decrease) in trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract105_lbl0" xml:lang="en-US">Unlabeled Abstract105</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract105" xlink:to="mgic_UnlabeledAbstract105_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract104_lbl0" xml:lang="en-US">Unlabeled Abstract104</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract104" xlink:to="mgic_UnlabeledAbstract104_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ExerciseOptionVestLife_lbl1" xml:lang="en-US">Exercise Option Vest Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl0" xml:lang="en-US">Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract109_lbl0" xml:lang="en-US">Unlabeled Abstract109</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract109" xlink:to="mgic_UnlabeledAbstract109_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract108_lbl0" xml:lang="en-US">Unlabeled Abstract108</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract108" xlink:to="mgic_UnlabeledAbstract108_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RightofuseAssetMember_lbl0" xml:lang="en-US">Rightofuse Asset Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RightofuseAssetMember" xlink:to="mgic_RightofuseAssetMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Equity attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0" xml:lang="en-US">Disclosure of events after reporting period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl0" xml:lang="en-US">Number of shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl1" xml:lang="en-US">Fair Value Of Option At The Grant Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract110_lbl0" xml:lang="en-US">Unlabeled Abstract110</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract110" xlink:to="mgic_UnlabeledAbstract110_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DividendDistributed_lbl0" xml:lang="en-US">Dividend Distributed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendDistributed" xlink:to="mgic_DividendDistributed_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl0" xml:lang="en-US">Deferred tax liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl0" xml:lang="en-US">Amounts payable, related party transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorName_lbl0" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl0" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract114_lbl0" xml:lang="en-US">Unlabeled Abstract114</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract114" xlink:to="mgic_UnlabeledAbstract114_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract113_lbl0" xml:lang="en-US">Unlabeled Abstract113</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxExpenses" xlink:to="mgic_TaxExpenses_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl0" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl0" xml:lang="en-US">Disclosure of borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted_lbl0" xml:lang="en-US">Expected dividend, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl0" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl0" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FourHundredFiftyFiveMember_lbl0" xml:lang="en-US">Four Hundred Fifty Five Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourHundredFiftyFiveMember" xlink:to="mgic_FourHundredFiftyFiveMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl0" xml:lang="en-US">Disclosure of intangible assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl0" xml:lang="en-US">Disclosure of intangible assets with indefinite useful life [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Amortization Expenses Related To Intangible Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract" xlink:to="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl0" xml:lang="en-US">Additions to right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsToRightofuseAssets" xlink:to="ifrs-full_AdditionsToRightofuseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl1" xml:lang="en-US">Deferred Income Tax Expenses Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl0" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfLiquidityRiskExplanatory_lbl0" xml:lang="en-US">Disclosure of liquidity risk [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLiquidityRiskExplanatory" xlink:to="ifrs-full_DisclosureOfLiquidityRiskExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl1" xml:lang="en-US">Sales and marketing expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl0" xml:lang="en-US">Disclosure of fair value measurement [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PropertyPlantAndEquipmentsGross_lbl2" xml:lang="en-US">Property Plant And Equipments Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantAndEquipmentsGross" xlink:to="mgic_PropertyPlantAndEquipmentsGross_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostPurchases_lbl0" xml:lang="en-US">Cost Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostPurchases" xlink:to="mgic_CostPurchases_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAccruedExpensesAndOtherAccountsPayableAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfAccruedExpensesAndOtherAccountsPayableAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAccruedExpensesAndOtherAccountsPayableAbstract_lbl" xml:lang="en-US">Schedule Of Accrued Expenses And Other Accounts Payable Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAccruedExpensesAndOtherAccountsPayableAbstract" xlink:to="mgic_ScheduleOfAccruedExpensesAndOtherAccountsPayableAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnbilledReceivables_lbl0" xml:lang="en-US">Unbilled Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnbilledReceivables" xlink:to="mgic_UnbilledReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialIncomeAbstract_lbl0" xml:lang="en-US">Financial Income Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialIncomeAbstract" xlink:to="mgic_FinancialIncomeAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl1" xml:lang="en-US">Disclosure Of Liabilities In Respect Of The Business Combinations Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory" xlink:to="mgic_DisclosureOfLiabilitiesInRespectOfTheBusinessCombinationsExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl0" xml:lang="en-US">Disclosure of share-based payment arrangements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl0" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for functional currency [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ContactPersonnelName_lbl0" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesSharesIssued_lbl1" xml:lang="en-US">Ordinary Shares Shares Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl0" xml:lang="en-US">Undiscounted operating lease payments to be received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:to="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl1" xml:lang="en-US">Put Options Of Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GrossDeferredTaxLiabilities_lbl1" xml:lang="en-US">Gross Deferred Tax Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GrossDeferredTaxLiabilities" xlink:to="mgic_GrossDeferredTaxLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WorkingCapitalAbstract_lbl0" xml:lang="en-US">Working Capital Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAbstract" xlink:to="mgic_WorkingCapitalAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl0" xml:lang="en-US">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration_lbl0" xml:lang="en-US">Increase In Fair Value Of Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInFairValueOfContingentConsideration" xlink:to="mgic_IncreaseInFairValueOfContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl0" xml:lang="en-US">Accumulated Unrealized Gain On Derivative Instruments Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" xlink:to="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl1" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract" xlink:to="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalLongTermBorrowings_lbl1" xml:lang="en-US">Total Long Term Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl0" xml:lang="en-US">Adjustments to reconcile profit (loss) other than changes in working capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:to="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LonglivedAssets_lbl1" xml:lang="en-US">Longlived Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl0" xml:lang="en-US">Document Shell Company Report</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBorrowingCostsExplanatory_lbl0" xml:lang="en-US">Disclosure of borrowing costs [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingCostsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingCostsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl0" xml:lang="en-US">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract_lbl0" xml:lang="en-US">Financial assets at fair value through profit or loss [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AnnualRevenuesPercentage_lbl1" xml:lang="en-US">Annual Revenues Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualRevenuesPercentage" xlink:to="mgic_AnnualRevenuesPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AppendixBAbstract_lbl0" xml:lang="en-US">Appendix BAbstract</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl0" xml:lang="en-US">Plan assets, at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl1" xml:lang="en-US">Deferred Foreign Income Tax Expense Benefi</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GovernmentGrants_lbl0" xml:lang="en-US">Government grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentGrants" xlink:to="ifrs-full_GovernmentGrants_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLongTermLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Long Term Liabilities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedSoftwareCosts_lbl1" xml:lang="en-US">Capitalized Software Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl1" xml:lang="en-US">Competitive Digital Ecosystem</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl0" xml:lang="en-US">Description of intangible assets with indefinite useful life supporting assessment of indefinite useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife" xlink:to="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl1" xml:lang="en-US">Adjustments Arising From Translating Financial Statements Of Foreign Operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomersoneMember_lbl0" xml:lang="en-US">Customersone Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersoneMember" xlink:to="mgic_CustomersoneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl0" xml:lang="en-US">Adjustments for current tax of prior periods</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:to="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RightofuseAssets_lbl0" xml:lang="en-US">Right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract_lbl" xml:lang="en-US">Schedule Of Revenue By Timing Of Revenue Recognition Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract" xlink:to="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember_lbl0" xml:lang="en-US">Stock Option Plan Of Comm ITSolutions Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:to="mgic_StockOptionPlanOfCommITSolutionsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl0" xml:lang="en-US">Risk free interest rate, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl0" xml:lang="en-US">Depreciation and amortisation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl0" xml:lang="en-US">Disclosure of related party [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for impairment of non-financial assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalLongTermDebtMember_lbl0" xml:lang="en-US">Total Long Term Debt Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermDebtMember" xlink:to="mgic_TotalLongTermDebtMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ComputersAndPeripheralEquipmentMember_lbl0" xml:lang="en-US">Computers And Peripheral Equipment Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ComputersAndPeripheralEquipmentMember" xlink:to="mgic_ComputersAndPeripheralEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl0" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl0" xml:lang="en-US">Increase (decrease) through acquisition of subsidiary, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PurchaseOfShares_lbl1" xml:lang="en-US">Purchase Of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl0" xml:lang="en-US">Current Maturities Of Longterm Loans From Financial Institution Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl1" xml:lang="en-US">Capitalized Development Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for fair value measurement [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl1" xml:lang="en-US">Amortization Of Premium And Accrued Interest On Debt Instruments At Fair Value Through Other Co</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Estimated Fair Values Of The Assets Acquired And Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract" xlink:to="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl0" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl0" xml:lang="en-US">Capitalized Software Development Costs Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:to="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl0" xml:lang="en-US">Equity and liabilities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsTypeAxis_lbl0" xml:lang="en-US">Short Term Debts Type Axis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTypeAxis" xlink:to="mgic_ShortTermDebtsTypeAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl0" xml:lang="en-US">Defined benefit obligation, at present value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl1" xml:lang="en-US">Description Of Reclassification Of Prior Years Presentation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfReclassificationOfPriorYearsPresentation" xlink:to="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl1" xml:lang="en-US">Settlement Of Put Options Over Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:to="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Payments of lease liabilities, classified as financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl0" xml:lang="en-US">Disclosure of research and development expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl1" xml:lang="en-US">Adjustments Arising From Translating Financial Statements Of Foreign Operations Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostMember_lbl0" xml:lang="en-US">Cost Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl0" xml:lang="en-US">Computer software [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl0" xml:lang="en-US">Expense Relating To Operating Lease Costs Payments Not Included In Measurement Of Lease Liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RightUseOfAsset_lbl1" xml:lang="en-US">Right Use Of Asset</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl0" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_USCountryMember_lbl2" xml:lang="en-US">USCountry Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USCountryMember" xlink:to="mgic_USCountryMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ExerciseOfOptions_lbl1" xml:lang="en-US">Exercise Of Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOfOptions" xlink:to="mgic_ExerciseOfOptions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromBanks_lbl0" xml:lang="en-US">Deposits from banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquiredTechnologyMember_lbl1" xml:lang="en-US">Acquired Technology Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl0" xml:lang="en-US">Document Type</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory_lbl0" xml:lang="en-US">Disclosure Of Intangible Assets By Reportable Segment Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxAssetsAbstract_lbl0" xml:lang="en-US">Deferred Tax Assets Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedExpenses_lbl0" xml:lang="en-US">Accrued Expenses</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRightOfUseAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfRightOfUseAssetsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoansToRelatedParty_lbl1" xml:lang="en-US">Loans To Related Party</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NumeratorAbstract_lbl0" xml:lang="en-US">Numerator Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl0" xml:lang="en-US">Disclosure of maturity analysis of operating lease payments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherLongTermDebtsMember_lbl0" xml:lang="en-US">Other Long Term Debts Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_lbl0" xml:lang="en-US">Gains (losses) on exchange differences on translation of foreign operations, before tax</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl0" xml:lang="en-US">Disclosure of general information about financial statements [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageShares_lbl0" xml:lang="en-US">Weighted average number of ordinary shares used in calculating basic earnings per share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivables_lbl0" xml:lang="en-US">Trade receivables</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl0" xml:lang="en-US">Financial assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisposalPropertyPlantAndEquipment_lbl1" xml:lang="en-US">Disposal Property Plant And Equipment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl0" xml:lang="en-US">Revenue from rendering of information technology consulting services</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl0" xml:lang="en-US">Amounts That Will Be Or That Have Been Reclassified To Profit Or Loss When Specific Conditions Are Met Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract" xlink:to="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeContributionsPercentage_lbl1" xml:lang="en-US">Employee Contributions Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsiderationPaidReceived_lbl0" xml:lang="en-US">Consideration paid (received)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsiderationPaidReceived" xlink:to="ifrs-full_ConsiderationPaidReceived_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl0" xml:lang="en-US">Disclosure of income tax [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl1" xml:lang="en-US">Disclosure Of Rightof Use Assets By Class Of Underlying Asset Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory" xlink:to="mgic_DisclosureOfRightofUseAssetsByClassOfUnderlyingAssetExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl2" xml:lang="en-US">Later than four years and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TopOfRangeMember_lbl1" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl0" xml:lang="en-US">Retained earnings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl0" xml:lang="en-US">Increase (decrease) in contingent consideration asset (liability)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ControllingShareholderMember_lbl0" xml:lang="en-US">Controlling Shareholder Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ControllingShareholderMember" xlink:to="mgic_ControllingShareholderMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract_lbl0" xml:lang="en-US">Cost Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract" xlink:to="mgic_CostAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalMember_lbl0" xml:lang="en-US">Total Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalMember" xlink:to="mgic_TotalMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl0" xml:lang="en-US">Adjustments to reconcile profit (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_lbl0" xml:lang="en-US">Non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ConsolidatedStatementsOfChangesInEquityAbstract" xlink:href="mgic-20231231.xsd#mgic_ConsolidatedStatementsOfChangesInEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ConsolidatedStatementsOfChangesInEquityAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Changes In Equity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsolidatedStatementsOfChangesInEquityAbstract" xlink:to="mgic_ConsolidatedStatementsOfChangesInEquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl0" xml:lang="en-US">Expected dividend as percentage, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl0" xml:lang="en-US">Financial Liabilities Measured At Amortized Cost Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract" xlink:to="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossLeaseLiabilities_lbl0" xml:lang="en-US">Gross lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossLeaseLiabilities" xlink:to="ifrs-full_GrossLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl0" xml:lang="en-US">Disclosure of finance income (cost) [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl0" xml:lang="en-US">Number of shares reserved for issue under options and contracts for sale of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:to="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl0" xml:lang="en-US">Increase (decrease) in cash and cash equivalents after effect of exchange rate changes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentAbstract_lbl0" xml:lang="en-US">Current Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAbstract" xlink:to="mgic_CurrentAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl0" xml:lang="en-US">Acquisition-date fair value of equity interest in acquiree held by acquirer immediately before acquisition date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:to="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl1" xml:lang="en-US">Deferred And Contingent Liabilities Assumed In Current Year Business Combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:to="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl0" xml:lang="en-US">Tax rate effect of foreign tax rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoansFromBanksAndOthersMember_lbl0" xml:lang="en-US">Loans From Banks And Others Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBanksAndOthersMember" xlink:to="mgic_LoansFromBanksAndOthersMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl1" xml:lang="en-US">Comprehensive income attributable to [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmortizationOfInterestAndExchangeRate_lbl0" xml:lang="en-US">Amortization Of Interest And Exchange Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRate" xlink:to="mgic_AmortizationOfInterestAndExchangeRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl1" xml:lang="en-US">Unrecognized Compensation Cost Related To Non Vested Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract_lbl" xml:lang="en-US">Schedule Of Intangible Assets Composition By Reportable Segment Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract" xlink:to="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromExerciseOfWarrants_lbl0" xml:lang="en-US">Proceeds from exercise of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfWarrants" xlink:to="ifrs-full_ProceedsFromExerciseOfWarrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl0" xml:lang="en-US">Expected volatility, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_Subcontractors_lbl1" xml:lang="en-US">Subcontractors</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesLineItems_lbl0" xml:lang="en-US">Leases Line Items</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl1" xml:lang="en-US">Trade Receivables Net Of Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TradeReceivablesNetOfAllowance" xlink:to="mgic_TradeReceivablesNetOfAllowance_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerEquipmentMember_lbl0" xml:lang="en-US">Computer equipment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerEquipmentMember" xlink:to="ifrs-full_ComputerEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl0" xml:lang="en-US">Disclosure of depreciation and amortisation expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl0" xml:lang="en-US">Revenue from contracts with customers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsForIndexation_lbl0" xml:lang="en-US">Adjustments For Indexation</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for business combinations and goodwill [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorLocation_lbl0" xml:lang="en-US">Auditor Location</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl0" xml:lang="en-US">Payables to related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:to="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl0" xml:lang="en-US">Profit (loss), attributable to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Repayments of borrowings, classified as financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Estimated Future Amortization Of Intangible Assets Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl1" xml:lang="en-US">Changes In Value Of Shortterm And Longterm Loans From Banks And Others And Deposits Net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl0" xml:lang="en-US">Accumulated Amortization And Impairment Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl0" xml:lang="en-US">Entity Registrant Name</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl1" xml:lang="en-US">Estimated Useful Life Of Asset</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options exercisable in share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl0" xml:lang="en-US">City Area Code</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquiredTechnology_lbl1" xml:lang="en-US">Acquired Technology</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherMember_lbl1" xml:lang="en-US">Other Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxLiabilitieAbstract_lbl0" xml:lang="en-US">Deferred Tax Liabilitie Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxLiabilitieAbstract" xlink:to="mgic_DeferredTaxLiabilitieAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisExplanatory_lbl1" xml:lang="en-US">Disclosure Of Financial Assets And Liabilities Measured At Fair Value On ARecurring Basis Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnDeposits_lbl0" xml:lang="en-US">Interest income on deposits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EuropeCountryMember_lbl0" xml:lang="en-US">Europe Country Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EuropeCountryMember" xlink:to="mgic_EuropeCountryMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Non-current liabilities [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NoncashActivitiesAbstract_lbl0" xml:lang="en-US">Noncash Activities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl1" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options forfeited in share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl0" xml:lang="en-US">Disclosure of intangible assets material to entity [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl0" xml:lang="en-US">Entity Address, Country</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract_lbl" xml:lang="en-US">Schedule Of Past Due But Not Impaired Trade Receivables Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract" xlink:to="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl0" xml:lang="en-US">Other non-current receivables</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl0" xml:lang="en-US">Dividends recognised as distributions to owners of parent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PercentageOfPerformanceObligations_lbl1" xml:lang="en-US">Percentage Of Performance Obligations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl1" xml:lang="en-US">Current Assets Recognised As Of Acquisition</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Increase (decrease) through net exchange differences, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_lbl0" xml:lang="en-US">Disclosure of goodwill [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl2" xml:lang="en-US">Intangible Assets Net Of Deferred Tax Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BankAndSimilarCharges_lbl0" xml:lang="en-US">Bank and similar charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl0" xml:lang="en-US">Other comprehensive income, net of tax, change in value of foreign currency basis spreads</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl0" xml:lang="en-US">Financial liabilities, at fair value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl1" xml:lang="en-US">Number of shares outstanding</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingLossCarryforwardsAmount_lbl1" xml:lang="en-US">Operating Loss Carryforwards Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLossCarryforwardsAmount" xlink:to="mgic_OperatingLossCarryforwardsAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl1" xml:lang="en-US">Acquisition Of Redeemable Noncontrolling Interests</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl0" xml:lang="en-US">Disclosure of business combinations [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration_lbl0" xml:lang="en-US">Decrease In Fair Value Of Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreaseInFairValueOfContingentConsideration" xlink:to="mgic_DecreaseInFairValueOfContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl0" xml:lang="en-US">Magic Software Enterprises Ltd Shareholders Equity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:to="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl0" xml:lang="en-US">Dividends paid to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl0" xml:lang="en-US">Current prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Dividends paid to equity holders of parent, classified as financing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedInterestOnLongTermDebtMember_lbl0" xml:lang="en-US">Accrued Interest On Long Term Debt Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl0" xml:lang="en-US">Depreciation, right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermCreditFromBanksMember_lbl0" xml:lang="en-US">Short Term Credit From Banks Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermCreditFromBanksMember" xlink:to="mgic_ShortTermCreditFromBanksMember_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract43" xlink:to="mgic_UnlabeledAbstract43_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl1" xml:lang="en-US">Payments For Business Acquisitions Net Of Cash Acquired Appendix A</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract44" xlink:to="mgic_UnlabeledAbstract44_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract41" xlink:to="mgic_UnlabeledAbstract41_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_lbl0" xml:lang="en-US">Disclosure of detailed information about intangible assets [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract42_lbl0" xml:lang="en-US">Unlabeled Abstract42</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract42" xlink:to="mgic_UnlabeledAbstract42_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_lbl2" xml:lang="en-US">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl0" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract47" xlink:to="mgic_UnlabeledAbstract47_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract48_lbl0" xml:lang="en-US">Unlabeled Abstract48</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract48" xlink:to="mgic_UnlabeledAbstract48_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract45_lbl0" xml:lang="en-US">Unlabeled Abstract45</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract45" xlink:to="mgic_UnlabeledAbstract45_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract46_lbl0" xml:lang="en-US">Unlabeled Abstract46</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract46" xlink:to="mgic_UnlabeledAbstract46_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl0" xml:lang="en-US">Disclosure of detailed information about borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfTotalRevenuesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfTotalRevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfTotalRevenuesAbstract_lbl" xml:lang="en-US">Schedule Of Total Revenues Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfTotalRevenuesAbstract" xlink:to="mgic_ScheduleOfTotalRevenuesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract49_lbl0" xml:lang="en-US">Unlabeled Abstract49</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract49" xlink:to="mgic_UnlabeledAbstract49_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xml:lang="en-US">Profit or loss [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl1" xml:lang="en-US">Profit (loss) before tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl0" xml:lang="en-US">Current portion of non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLongLivedAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfLongLivedAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLongLivedAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Long Lived Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLongLivedAssetsAbstract" xlink:to="mgic_ScheduleOfLongLivedAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract50_lbl0" xml:lang="en-US">Unlabeled Abstract50</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract50" xlink:to="mgic_UnlabeledAbstract50_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract51_lbl0" xml:lang="en-US">Unlabeled Abstract51</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract51" xlink:to="mgic_UnlabeledAbstract51_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract54_lbl0" xml:lang="en-US">Unlabeled Abstract54</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract54" xlink:to="mgic_UnlabeledAbstract54_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options forfeited in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract55_lbl0" xml:lang="en-US">Unlabeled Abstract55</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract55" xlink:to="mgic_UnlabeledAbstract55_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract52_lbl0" xml:lang="en-US">Unlabeled Abstract52</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract52" xlink:to="mgic_UnlabeledAbstract52_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract53_lbl0" xml:lang="en-US">Unlabeled Abstract53</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract53" xlink:to="mgic_UnlabeledAbstract53_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RevenueRecognitionDetailsScheduleofDeferredRevenuesfromContractswithCustomersParentheticalsLineItems_lbl0" xml:lang="en-US">Revenue Recognition Details Scheduleof Deferred Revenuesfrom Contractswith Customers Parentheticals Line Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RevenueRecognitionDetailsScheduleofDeferredRevenuesfromContractswithCustomersParentheticalsLineItems" xlink:to="mgic_RevenueRecognitionDetailsScheduleofDeferredRevenuesfromContractswithCustomersParentheticalsLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract58_lbl0" xml:lang="en-US">Unlabeled Abstract58</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract58" xlink:to="mgic_UnlabeledAbstract58_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReceivables_lbl0" xml:lang="en-US">Other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract59_lbl0" xml:lang="en-US">Unlabeled Abstract59</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract59" xlink:to="mgic_UnlabeledAbstract59_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByNature_lbl0" xml:lang="en-US">Other expenses, by nature</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncome_lbl1" xml:lang="en-US">Finance income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract56_lbl0" xml:lang="en-US">Unlabeled Abstract56</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract56" xlink:to="mgic_UnlabeledAbstract56_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract57_lbl0" xml:lang="en-US">Unlabeled Abstract57</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract57" xlink:to="mgic_UnlabeledAbstract57_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract18_lbl0" xml:lang="en-US">Unlabeled Abstract18</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract18" xlink:to="mgic_UnlabeledAbstract18_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract19_lbl0" xml:lang="en-US">Unlabeled Abstract19</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract19" xlink:to="mgic_UnlabeledAbstract19_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract16_lbl0" xml:lang="en-US">Unlabeled Abstract16</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract16" xlink:to="mgic_UnlabeledAbstract16_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract17_lbl0" xml:lang="en-US">Unlabeled Abstract17</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract28" xlink:to="mgic_UnlabeledAbstract28_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl0" xml:lang="en-US">Short-term deposits, classified as cash equivalents</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEstimatedUsefulLifeOfTheAssetsAtAnnualRatesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfEstimatedUsefulLifeOfTheAssetsAtAnnualRatesAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEstimatedUsefulLifeOfTheAssetsAtAnnualRatesAbstract" xlink:to="mgic_ScheduleOfEstimatedUsefulLifeOfTheAssetsAtAnnualRatesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears_lbl0" xml:lang="en-US">Weighted Average Remaining Lease Termyears</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingLeaseTermyears" xlink:to="mgic_WeightedAverageRemainingLeaseTermyears_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashOutflowForLeases_lbl0" xml:lang="en-US">Cash outflow for leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl0" xml:lang="en-US">Disclosure Of Results Of Operations And Prospects Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory" xlink:to="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SellingAndMarketingExpenses_lbl0" xml:lang="en-US">Selling And Marketing Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpenses" xlink:to="mgic_SellingAndMarketingExpenses_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfShortTermDebtsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfShortTermDebtsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfShortTermDebtsAbstract_lbl" xml:lang="en-US">Schedule Of Short Term Debts Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfShortTermDebtsAbstract" xlink:to="mgic_ScheduleOfShortTermDebtsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl0" xml:lang="en-US">Not later than one month [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract32_lbl0" xml:lang="en-US">Unlabeled Abstract32</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract32" xlink:to="mgic_UnlabeledAbstract32_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract3_lbl0" xml:lang="en-US">Cost Abstract3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract3" xlink:to="mgic_CostAbstract3_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract33_lbl0" xml:lang="en-US">Unlabeled Abstract33</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract33" xlink:to="mgic_UnlabeledAbstract33_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract2_lbl0" xml:lang="en-US">Cost Abstract2</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract2" xlink:to="mgic_CostAbstract2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract30_lbl0" xml:lang="en-US">Unlabeled Abstract30</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract30" xlink:to="mgic_UnlabeledAbstract30_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract1_lbl0" xml:lang="en-US">Cost Abstract1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract1" xlink:to="mgic_CostAbstract1_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfComputationOfBAsicAndDilutedNetEarningsPerShareAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfComputationOfBAsicAndDilutedNetEarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfComputationOfBAsicAndDilutedNetEarningsPerShareAbstract_lbl" xml:lang="en-US">Schedule Of Computation Of BAsic And Diluted Net Earnings Per Share Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfComputationOfBAsicAndDilutedNetEarningsPerShareAbstract" xlink:to="mgic_ScheduleOfComputationOfBAsicAndDilutedNetEarningsPerShareAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract31_lbl0" xml:lang="en-US">Unlabeled Abstract31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract31" xlink:to="mgic_UnlabeledAbstract31_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract0_lbl0" xml:lang="en-US">Cost Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract0" xlink:to="mgic_CostAbstract0_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract36" xlink:to="mgic_UnlabeledAbstract36_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract37" xlink:to="mgic_UnlabeledAbstract37_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeaseTerm_lbl1" xml:lang="en-US">Lease Term</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract34" xlink:to="mgic_UnlabeledAbstract34_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract35" xlink:to="mgic_UnlabeledAbstract35_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract4" xlink:to="mgic_CostAbstract4_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl2"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl0" xml:lang="en-US">Revenue from rendering of services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServices" xlink:to="ifrs-full_RevenueFromRenderingOfServices_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl2" xml:lang="en-US">Property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl0" xml:lang="en-US">Diluted earnings (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl0" xml:lang="en-US">Leasehold improvements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract10" xlink:to="mgic_UnlabeledAbstract10_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="mgic_PurchaseOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl1" xml:lang="en-US">Other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilities_lbl0" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses_lbl0" xml:lang="en-US">Tax rate effect of tax losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfTaxLosses" xlink:to="ifrs-full_TaxRateEffectOfTaxLosses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl0" xml:lang="en-US">Adjustments for decrease (increase) in trade and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomersRelationshipMember_lbl0" xml:lang="en-US">Customers Relationship Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory_lbl0" xml:lang="en-US">Disclosure of number and weighted average remaining contractual life of outstanding share options [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl1" xml:lang="en-US">Increase In Valuation Of Consideration Related To Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl1" xml:lang="en-US">Weighted Average Cost Of Capitals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossProfit_lbl0" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl1" xml:lang="en-US">General and administrative expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract2_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract2</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract2" xlink:to="mgic_AccumulatedDepreciationAbstract2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherEquityInterest_lbl0" xml:lang="en-US">Other equity interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEquityInterest" xlink:to="ifrs-full_OtherEquityInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl1" xml:lang="en-US">Later than two years and not later than three years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl0" xml:lang="en-US">Non-current lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Depreciation, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl0" xml:lang="en-US">Current accrued expenses and other current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl0" xml:lang="en-US">Accumulated Amortization And Impairment Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_lbl0" xml:lang="en-US">Financial assets at fair value through profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Adjustments for gain (loss) on disposals, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivablesMember_lbl0" xml:lang="en-US">Trade receivables [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivablesMember" xlink:to="ifrs-full_TradeReceivablesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl0" xml:lang="en-US">Financial liabilities at fair value through profit or loss [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl1" xml:lang="en-US">Acquisitions Of Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl0" xml:lang="en-US">Adjustments for increase (decrease) in trade and other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Disclosure of fair value of financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl0" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BuildingsMember_lbl0" xml:lang="en-US">Buildings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearMember_lbl2" xml:lang="en-US">Later than one year [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl2" xml:lang="en-US">Adjustments for share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EnglandMember_lbl0" xml:lang="en-US">England Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EnglandMember" xlink:to="mgic_EnglandMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld_lbl0" xml:lang="en-US">Government debt instruments held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentDebtInstrumentsHeld" xlink:to="ifrs-full_GovernmentDebtInstrumentsHeld_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_lbl1" xml:lang="en-US">Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract1_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract1" xlink:to="mgic_AccumulatedDepreciationAbstract1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl0" xml:lang="en-US">Applicable tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract0_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract0" xlink:to="mgic_AccumulatedDepreciationAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesExtendToAdditionalYears_lbl0" xml:lang="en-US">Leases Extend To Additional Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesExtendToAdditionalYears" xlink:to="mgic_LeasesExtendToAdditionalYears_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnpaidDeferredRevenuesMember_lbl0" xml:lang="en-US">Unpaid Deferred Revenues Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnpaidDeferredRevenuesMember" xlink:to="mgic_UnpaidDeferredRevenuesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl0" xml:lang="en-US">Cash flows from (used in) investing activities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Acquisitions through business combinations, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRightOfUseAssetsByClassOfUnderlyingAssetAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfRightOfUseAssetsByClassOfUnderlyingAssetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfRightOfUseAssetsByClassOfUnderlyingAssetAbstract_lbl" xml:lang="en-US">Schedule Of Right Of Use Assets By Class Of Underlying Asset Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRightOfUseAssetsByClassOfUnderlyingAssetAbstract" xlink:to="mgic_ScheduleOfRightOfUseAssetsByClassOfUnderlyingAssetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract_lbl" xml:lang="en-US">Schedule Of Assessment For Goodwill Impairment Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract" xlink:to="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageDiscountRate_lbl0" xml:lang="en-US">Weighted Average Discount Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageDiscountRate" xlink:to="mgic_WeightedAverageDiscountRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl1" xml:lang="en-US">Uncertain Tax Positions And Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FormulaTelecomSolutionsLtdMember_lbl0" xml:lang="en-US">Formula Telecom Solutions Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FormulaTelecomSolutionsLtdMember" xlink:to="mgic_FormulaTelecomSolutionsLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AnnualCompensationPercentage_lbl1" xml:lang="en-US">Annual Compensation Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for income tax [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl0" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl0" xml:lang="en-US">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceCosts_lbl1" xml:lang="en-US">Finance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsDetailsLineItems_lbl0" xml:lang="en-US">Business Combinations Details Line Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsDetailsLineItems" xlink:to="mgic_BusinessCombinationsDetailsLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl0" xml:lang="en-US">Goodwill expected to be deductible for tax purposes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:to="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CarryforwardsLossesMember_lbl0" xml:lang="en-US">Carryforwards Losses Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CarryforwardsLossesMember" xlink:to="mgic_CarryforwardsLossesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl0" xml:lang="en-US">Cash flows from (used in) financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl0" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommITSolutions2022PlanMember_lbl0" xml:lang="en-US">Comm ITSolutions2022 Plan Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommITSolutions2022PlanMember" xlink:to="mgic_CommITSolutions2022PlanMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract_lbl" xml:lang="en-US">Schedule Of Reported Segment Results Of Operation Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract" xlink:to="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_lbl0" xml:lang="en-US">Disclosure of prepayments and other assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl1" xml:lang="en-US">Amortization Of Interest And Exchange Rate Related To Deferred Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration" xlink:to="mgic_AmortizationOfInterestAndExchangeRateRelatedToDeferredConsideration_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl1" xml:lang="en-US">Accumulated depreciation and amortisation [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl0" xml:lang="en-US">Decrease (increase) through tax on share-based payment transactions, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:to="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl1" xml:lang="en-US">Cash Paid Due To Exercise Of Put Option By Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfChangesInAccountingPoliciesExplanatory_lbl0" xml:lang="en-US">Disclosure of changes in accounting policies [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfChangesInAccountingPoliciesExplanatory" xlink:to="ifrs-full_DisclosureOfChangesInAccountingPoliciesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SellingAndMarketingExpensesMember_lbl0" xml:lang="en-US">Selling And Marketing Expenses Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpensesMember" xlink:to="mgic_SellingAndMarketingExpensesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl2" xml:lang="en-US">Net deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BankLoansMember_lbl0" xml:lang="en-US">Bank Loans Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BankLoansMember" xlink:to="mgic_BankLoansMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoansFromBankAndFinancialInstitutions_lbl0" xml:lang="en-US">Loans From Bank And Financial Institutions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBankAndFinancialInstitutions" xlink:to="mgic_LoansFromBankAndFinancialInstitutions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostsAtEnding_lbl1" xml:lang="en-US">Costs At Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostsAtEnding" xlink:to="mgic_CostsAtEnding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdditionsDuringTheYearAbstract_lbl0" xml:lang="en-US">Additions During The Year Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract" xlink:to="mgic_AdditionsDuringTheYearAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl1" xml:lang="en-US">Aggregate Ordinary Shares Available For Future Grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl0" xml:lang="en-US">Document Annual Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarnings_lbl0" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl0" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIntangibleAssets_lbl0" xml:lang="en-US">Other intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssets" xlink:to="ifrs-full_OtherIntangibleAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl1" xml:lang="en-US">Increase In Deferred Consideration Due To Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInDeferredConsiderationDueToAcquisitions" xlink:to="mgic_IncreaseInDeferredConsiderationDueToAcquisitions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_lbl0" xml:lang="en-US">Disclosure of reserves within equity [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncome_lbl1" xml:lang="en-US">Comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl0" xml:lang="en-US">Current Maturities Of Longterm Loans From Financial Institutions And Banks Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl0" xml:lang="en-US">Interest expense on lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl1" xml:lang="en-US">Financial Debts Not Exceed Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of other non-current liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AppendixAAbstract_lbl0" xml:lang="en-US">Appendix AAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixAAbstract" xlink:to="mgic_AppendixAAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfTheCompositionAndMovementAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfTheCompositionAndMovementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfTheCompositionAndMovementAbstract_lbl" xml:lang="en-US">Schedule Of The Composition And Movement Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfTheCompositionAndMovementAbstract" xlink:to="mgic_ScheduleOfTheCompositionAndMovementAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl0" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl0" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl1" xml:lang="en-US">Liability In Respect Of Business Combinations Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodkindGroupLLCMember_lbl0" xml:lang="en-US">Goodkind Group LLCMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodkindGroupLLCMember" xlink:to="mgic_GoodkindGroupLLCMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl1" xml:lang="en-US">Total Intrinsic Value Of Options Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl1" xml:lang="en-US">Ordinary Shares Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareCapitalAbstract_lbl0" xml:lang="en-US">Share Capital Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareCapitalAbstract" xlink:to="mgic_ShareCapitalAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfInformationOnLeasesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfInformationOnLeasesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfInformationOnLeasesAbstract_lbl" xml:lang="en-US">Schedule Of Information On Leases Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfInformationOnLeasesAbstract" xlink:to="mgic_ScheduleOfInformationOnLeasesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl1" xml:lang="en-US">Other operating income (expense)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl0" xml:lang="en-US">Cash flows from (used in) decrease (increase) in short-term deposits and investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalTradeReceivablesNet_lbl0" xml:lang="en-US">Total Trade Receivables Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalTradeReceivablesNet" xlink:to="mgic_TotalTradeReceivablesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfMaturityDatesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Maturity Dates Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfMaturityDatesExplanatory" xlink:to="mgic_DisclosureOfMaturityDatesExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PaymentOfDeferredConsideration_lbl1" xml:lang="en-US">Payment Of Deferred Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfDeferredConsideration" xlink:to="mgic_PaymentOfDeferredConsideration_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsForDevelopmentProjectExpenditure_lbl0" xml:lang="en-US">Payments for development project expenditure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsForDevelopmentProjectExpenditure" xlink:to="ifrs-full_PaymentsForDevelopmentProjectExpenditure_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl1" xml:lang="en-US">Current prepayments and other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl1" xml:lang="en-US">Accumulated Tax Exempt Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedTaxExemptEarnings" xlink:to="mgic_AccumulatedTaxExemptEarnings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsAndContingencies1_lbl1" xml:lang="en-US">Commitments And Contingencies1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsAndContingencies1" xlink:to="mgic_CommitmentsAndContingencies1_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfCarryingAmountOfGoodwillAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract_lbl" xml:lang="en-US">Schedule Of Carrying Amount Of Goodwill Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract" xlink:to="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl0" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl0" xml:lang="en-US">Weighted average share price, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:to="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_StockOptionPlansOfTheCompanyMember_lbl0" xml:lang="en-US">Stock Option Plans Of The Company Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlansOfTheCompanyMember" xlink:to="mgic_StockOptionPlansOfTheCompanyMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AggregateAmount_lbl1" xml:lang="en-US">Aggregate Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateAmount" xlink:to="mgic_AggregateAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAtBeginnings_lbl0" xml:lang="en-US">Cost At Beginnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtBeginnings" xlink:to="mgic_CostAtBeginnings_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Components Of The Companys Deferred Tax Assets And Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="mgic_ScheduleOfComponentsOfTheCompanysDeferredTaxAssetsAndLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeaseLiabilitieMember_lbl0" xml:lang="en-US">Lease Liabilitie Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseLiabilitieMember" xlink:to="mgic_LeaseLiabilitieMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl0" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl0" xml:lang="en-US">Par value per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeaseOptionToTerminate_lbl1" xml:lang="en-US">Lease Option To Terminate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseOptionToTerminate" xlink:to="mgic_LeaseOptionToTerminate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDeferredTaxAssets_lbl2" xml:lang="en-US">Net deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl1" xml:lang="en-US">Weighted Average Remaining Contractual Term Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl1" xml:lang="en-US">Disclosure Of Share Based Payment Expense Related To Employee Stock Option Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory" xlink:to="mgic_DisclosureOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0" xml:lang="en-US">Disclosure of earnings per share [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl0" xml:lang="en-US">Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfUsefulLifeOfIntangibleAssetsAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfUsefulLifeOfIntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfUsefulLifeOfIntangibleAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Useful Life Of Intangible Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfUsefulLifeOfIntangibleAssetsAbstract" xlink:to="mgic_ScheduleOfUsefulLifeOfIntangibleAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl2" xml:lang="en-US">Goodwilland Other Intangible Asset Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract_lbl" xml:lang="en-US">Schedule Of Research And Development Costs Net Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract" xlink:to="mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OfficeFurnitureAndEquipmentMember_lbl0" xml:lang="en-US">Office Furniture And Equipment Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OfficeFurnitureAndEquipmentMember" xlink:to="mgic_OfficeFurnitureAndEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Cash flows from (used in) financing activities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Goodwill_lbl0" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl0" xml:lang="en-US">Increase (decrease) in deferred tax liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercised in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NeitherPastDueNorImpairedMember_lbl0" xml:lang="en-US">Neither Past Due Nor Impaired Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NeitherPastDueNorImpairedMember" xlink:to="mgic_NeitherPastDueNorImpairedMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Profit (loss), attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BottomOfRangeMember_lbl2" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl1" xml:lang="en-US">Net Assets Excluding Acquired Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingAcquiredCash" xlink:to="mgic_NetAssetsExcludingAcquiredCash_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl1" xml:lang="en-US">Disclosure Of Estimated Fair Values Of The Assets Acquired And Liabilities Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:to="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl0" xml:lang="en-US">Deferred tax expense (income) recognised in profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl0" xml:lang="en-US">Supplementary Information On Investing And Financing Activities Not Involving Cash Flows Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" xlink:to="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesParValue_lbl1" xml:lang="en-US">Ordinary Shares Par Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesParValue" xlink:to="mgic_OrdinarySharesParValue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl0" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercisable in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfMaturityAnalysisOfUndiscountedFutureLeasePaymentsForLeaseLiabilitiesAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfMaturityAnalysisOfUndiscountedFutureLeasePaymentsForLeaseLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfMaturityAnalysisOfUndiscountedFutureLeasePaymentsForLeaseLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Maturity Analysis Of Undiscounted Future Lease Payments For Lease Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfMaturityAnalysisOfUndiscountedFutureLeasePaymentsForLeaseLiabilitiesAbstract" xlink:to="mgic_ScheduleOfMaturityAnalysisOfUndiscountedFutureLeasePaymentsForLeaseLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl1" xml:lang="en-US">Intangible Assets Net Of Deferred Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl0" xml:lang="en-US">Revenue from rendering of information technology maintenance and support services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_a2021Abstract_lbl0" xml:lang="en-US">a2021 Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2021Abstract" xlink:to="mgic_a2021Abstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl0" xml:lang="en-US">Interest paid, classified as operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl0" xml:lang="en-US">Disclosure of net defined benefit liability (asset) [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl0" xml:lang="en-US">Later than six months and not later than one year [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:to="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl1" xml:lang="en-US">Redeemable Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterest" xlink:to="mgic_RedeemableNoncontrollingInterest_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIncome_lbl0" xml:lang="en-US">Other income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_OtherIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl0" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract" xlink:href="mgic-20231231.xsd#mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract_lbl" xml:lang="en-US">Schedule Of Financial Assets And Liabilities Measured At Fair Value On ARecurring Basis Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract" xlink:to="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredConsideration_lbl2" xml:lang="en-US">Deferred Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredConsideration" xlink:to="mgic_DeferredConsideration_lbl2"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MarketableSecuritie_lbl1" xml:lang="en-US">Marketable Securitie</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_a2023Abstract0_lbl0" xml:lang="en-US">a2023 Abstract0</label>
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