Economy
In 1994, Israel and the Palestinians signed an economic accord that enabled Palestinians in Jericho to open banks, collect taxes and engage in export and import in preparation for self-rule.
In 1998, a $150 million casino-hotel was built in Jericho with the backing of Yasser Arafat.
One of Jericho’s primary sources of income is Christian tourism. A cable car takes Christian pilgrims up the hill to the Mount of Temptation, topped by a Greek Orthodox monastery with panoramic views of the region.In 2010, Jericho, with its proximity to the Dead Sea, was declared the most popular destination among Palestinian tourists.
Agriculture is another source of income, with banana groves ringing the city.
The Jericho Agro-Industrial Park is a public-private enterprise being developed in the Jericho area. Agricultural processing companies are being offered financial concessions to lease plots of land in the park in a bid to boost Jericho's economy.
Read more about this topic: Jericho
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)