From the fig tree learn its lesson: as soon as its
branch becomes tender and puts forth its leaves, you
know that summer is near. So also, when you see all
these things, you know that he is near, at the very
gates. Truly, I say to you, this generation will not
pass away till all these things take place.
Matthew 24:32-34

The Bible refers to a fig tree some 33 times--18 times
in the Old Testament alone. In context, the fig tree is
always a symbol for Israel, such as Hosea the
prophet's statement:

Like grapes in the wilderness, I found Israel. Like the
first fruit on the fig tree, in its first season, I saw
your fathers.
Hosea 9:10

Jesus then tells his disciples that the generation that
witnesses Israel (the fig tree) restored to its homeland
"
will by no means pass away until all things are
fulfilled
". This means that scripture up to and
including His Second Coming will be fulfilled by the
generation that witnessed Israel return to its homeland.  
That began in 1917 with the Balfour Declaration. In
May of 1948, Israel became a nation again and in the
Six Day War of 1967, they recovered Jerusalem
despite amazing odds. According to this parable, he is
referring to our generation.
Israel Reborn: Parable of the Fig Tree