Similar to their peers around the world, young Palestinians do equate schooling with the prospect of getting good jobs. But what is most striking is that education has become a source of self-worth and social recognition. In the words of one young man from Old City in Hebron, “When you have a degree you have your respect wherever you go.”
The other day I was in a car going to a meeting with Yemen’s Minister of Planning and International Cooperation. A car bomb exploded less than 500 meters from our location, targeting the Minister of Defense. The minister escaped but 12 people were killed and many more were injured. These are only some examples of events that we face in a fragile and conflict-affected state.
Over the next decade, the Middle East and North Africa faces the challenge of creating 40 million jobs for its youth with an estimated 10.7 million new entrants expected to join the labor force. With nearly one in five people between the ages of 15 and 24, the region has one of the youngest populations in the world. Therefore, the employment response must be well above average to employ the current and future jobseekers.
“We are not geniuses. We just use common sense.” For CEO and co-founder Ahmed Zahran of Karm Solar Egypt, a company that aims to commercialize solar technologies, it’s not about being a visionary. It is about good business. Ahmed and other young entrepreneurs and business leaders discussed the challenges and opportunities of doing business in the region.
As the Arab Spring swept through the region, Iraq was at war and fighting a homegrown insurgency. Since the war’s end, Iraq has had to pick up the pieces and come to terms with its sanctions and bloody sectarian conflict. How Iraq addresses these challenges in the medium term will have a long-term effect on its stability and development.
An analysis of the quality of growth, and more specifically of the dynamics of the private sector is necessary to understand a region’s underperformance in job creation. While many countries in the Middle East and North Africa region had periods of solid growth over the past decade, they all underperformed in job creation. This is because the quality of growth matters as much as the quantity.
On October 8, President Mohamed Morsi issued a decree pardoning all "Arab Spring" political prisoners. While the decree, if implemented, marks a milestone in Egypt’s hard-fought 21-month-long revolution, the quotient of inequality that contributed to setting it off still remains. From the Arab Spring to Occupy Wall Street, inequality has risen to the top of social agenda.
I finally had a chance to look over the latest Global Competitiveness Report (2012-2013), an annual publication of the World Economic Forum and I thought it would be interesting to see how the participating Arab countries were doing. So, what do these rankings actually mean and how did the Arab countries do? Well, as in all things, it varies by country and groupings of countries.
The World Bank’s database Global Findex estimates that more than 2.5 billion people from around the world lack access to formal financial institutions, with the largest concentrations in emerging markets and developing economies (EMDEs). This places the poor at a disadvantage, and significantly limits their ability to smooth their expenditures and engage in productive economic activity, particularly at a level and capacity sufficient to lift them out of poverty.
Yemen is currently engaged in a national dialogue. It is a vital phase of the reconciliation process launched in the aftermath of last year’s crisis. A political agreement was reached, sponsored by the Gulf Cooperation Council and supported by the international community, which included a commitment to reform the structure of the state to address long standing political fault lines between the north and the south, and regional grievances over the concentration of power in the capital, Sana’a.