The economy of the Palestinianterritories, hampered by years of conflict, occupation, andinsecurity remains dependent on foreign aid and the publicsector remains the largest employer. Jobs are too few andmanufacturing, agriculture, services, including tourism arein decline. As a recent Bank report noted while thePalestinian Authority (PA) has had considerable success inbuilding the institutions of a future state, it has madeless progress in developing a sustainable economic base. Therecent growth has largely been driven by donor aid. Thissituation is unsustainable and aid levels have already begunto fall. Fora future Palestinian state to be viable, it isnecessary that a private sector led economy is able togenerate the jobs needed by a rapidly growing population andthe resources required by the government to provideservices. Despite multiple challenges in the investmentclimate, the Palestinian information and communicationstechnology (ICT) sector has managed to grow and integratewith regional and international businesses. It is a fastgrowing start-up sector, which heavily contributes to thedevelopment of a knowledge based economy in Palestine.
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