‘Untapped potential’ of Palestinian investment opportunities could alert investors

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The Governor of the Palestine Monetary Authority has suggested the Palestinian economy is suffering from “misconceptions” and has also hailed the “host of investment opportunities” on offer within the country.

Dr Jihad Al Wazir has suggested that foreign investors should look past recent rumblings about the unstable nature of the nation’s economy and investigate the potential for investment themselves.

“The untapped potential in Palestine represents a host of investment opportunities in an emerging market where risks are factored in and low valuations offer high dividend yields, offering a winning combination for a lucrative business opportunity,” suggested Dr Al Wazir.

Such an upbeat tone is a contrast to a recent report produced by the United Nations which suggested that Palestine could be facing a crisis situation.

The report, produced by the United Nations Conference of Trade and Development (UNCTAD), revealed that despite the growth registered last year, the 30% unemployment rate remained unchanged for the area.

The gross domestic product (GDP) for Palestine last year was said to still be 7% below what it was over ten years ago, in 1999.

The reason for the warning is that the UNCTAD report stresses that severe fiscal leakage is the cause of economic problems. This is because imported goods from Israel are not taxed and a large number of these goods are then exported to occupied Palestinian territory.

The truth regarding the health of the Palestinian economy probably lies somewhere in between these mixed messages. The question for investors is quite simple; are they prepared to take the risk?

Transfer Money to Palestine

If you are looking to invest in Palestine, think carefully about how you will be transferring money to Palestine. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Palestine – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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‘Untapped potential’ of Palestinian investment opportunities could alert investors

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