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:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)