Palestinian Ruled Territories
The Palestinian Territories consist of two regions: The West Bank – bordering Jordan to the east and Israel to the west, north and south; and Gaza, bordered east and north by Israel, Egypt to the south and the Mediterranean to the west.
The political and economic situation in the Palestinian Territories is complex. However, there are a number of exciting opportunities available to shrewd investors.
The Palestinian Territories do not have their own currency, which complicates monetary policy. Both the Israeli shekel and the Jordanian dinar are commonly used in the West Bank, and the Egyptian pound is used in Gaza. Taxes may be paid to either the Palestinian Authority or to Israel, depending on circumstances.
The agricultural sector formally employs 13.4% of the population and informally employs 90% of the population. Olives are the Territories’ most important crop. Exports include fruit, vegetables and flowers.
Tourism plays an important role in the Palestinian economy, with around four million visiting the Territories every year. However, most tourists come for only a few hours and infrastructure is lacking. A high-tech sector has emerged in recent years, supported by the Territories’ links to Israel.
HLB’s local team in the Palestinian Territories offers a comprehensive range of professional services to those seeking to invest in the Palestinian Territories.
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