Palestinian Hi-Tech, the Economic Bright Spot [VIDEO REPORT]
The sector is growing and making its presence felt regionally and internationally
The Palestinian hi-tech sector is growing and making its presence felt regionally and internationally.
More than 450 hi-tech companies are flourishing in the West Bank and Gaza Strip, already contributing around 7% to the local GDP while accounting for some 15% of total exports.
Although the Palestinian economy is largely dependent upon foreign aid, and almost a quarter of the workforce is employed by the Palestinian Authority, many who are employed in hi-tech industries believe they can contribute to a healthier, less-dependent economy.
Nevertheless, launching a hi-tech company in the Palestinian territories is no easy task. The political scene is unstable, and the infrastructure must be brought up to date. The two most necessary elements — electricity and internet — are not entirely reliable.
The uncertain political landscape is also an obstacle, as Palestinians charge Israeli policy hinders the growth of the hi-tech and start-up sectors.
Despite all the difficulties, though, many in this sphere remain optimistic about the future.