Scope Of Business In Palestine
Industries in Palestine projected promising revenues for the past year. Some figures include $31,400 in food, $17,462 in beverages, $45,259 in mining, $13,836 in furniture, internal trade for approximately $26,066, Services at $9,483 and transport comprised for $46,937. However, the figures could have been better had it not been for the conflict with the neighboring country of Israel. Experts estimate losses amounting to 10 - 20 % of total Gross Domestic Product on these unforeseen events.
Palestine has seen so many ups and downs in the last few years that they are struggling to stabilize their economy. There is no doubt that it is very hard to keep things under check in such volatile conditions. From a time when the minimum annual salary of skilled labor was at $4,500 per month, it has now been decreased to a bare minimum. Top it up with the fact that the GDP of Palestine has dropped by a whopping 26% in the past couple of years. Only exceptions have been industries like that of Tourism, Scarves and Agriculture where some developments have been noticed.
Domestic production meets most of the consumer demand. Sections where supplies are not able to meet the demand, imports are the only solution. The total imports were estimated at approximately $2.5 billion for the year 2006. Youth always plays an important part in the buildup of a nation's economy. Fortunately for Palestine, more than half the population is below 18 years of age. As such, human resource is its best bet in making its presence felt in the world.
List of some industries which are trying to stimulate the growth of Palestinian economy include:
1. Advertising
2. Audit firms
3. Banking
4. Agriculture
5. Consulting services
6. Financial services
7. Automotive industry
8. Food and Beverages
9. Forestry & fishing sector
10. Soaps, detergent and paint industry.
11. Logistics
12. Manufacturing and mining sector
13. Information and Communication Technology
14. Metal products
15. Pharmaceuticals and Medical industry
16. Quarrying and Stone
17. Tourism
18. Transportation
19. Trade
20. Services
21. Textiles and garments industry
Sighting the large number of industries that are together playing a part, finding a job is not hard for someone who has been on the receiving end of even the most basic of trainings. In some cases, industry provides training to those who are willing enough to learn something new.
The climate of the Palestine is extreme. It gets very hot in summer and very cold during the winters. It further gets fueled by the presence of Mediterranean Sean nearby. Fortunately, it makes Palestine very good for agricultural. The cement sector is another important area in which Palestine is doing great and offers a lot of opportunities for both entrepreneurs and job seeking people alike. As the economy grows, the salaries and the living standards would improve accordingly. If the government plays its cards right and things go as per plans, Palestine can soon become a country to look forward to. It has the potential, the question is - can they exploit it?