The economic and political situation in Jordan is increasingly alarming, and according to Doron Peskin, an expert on Middle Eastern economics, the kingdom could become the region’s next “weak link” after the fall of Bashar al-Assad’s regime.
Jordan has historically never had a strong economy. According to Peskin, the country lacks natural resources, and its development largely depends on foreign aid and stability in the region. However, the events of recent months have seriously worsened the situation.
Since October 7, the Jordanian economy began to show signs of a deep crisis. One of the most alarming statistics was the unemployment rate: about 22% of the adult population remains unemployed, and among young people this figure reaches a frightening 46%. This situation is a kind of “time bomb”, aggravated by the decline in the tourism industry, limited trade turnover and reduced investment.
The tourism sector, which contributes 15% of the country’s GDP and supports thousands of jobs, especially in areas such as Petra, has been hit particularly hard by the crisis. Tourism fell 7% in the first eight months of the year, adding to economic woes. The decline in the flow of tourists deprives entire regions of work and increases social tension.
The strained relations with Israel after October 7 are also having a negative impact. An example was the termination of a project to supply desalinated water from Israel in exchange for solar energy from Jordan. Water shortage remains a key problem, further complicating the economic situation.
Peskin warns that in the absence of serious changes in the economy and governance of the country, Jordan could repeat the fate of Syria, facing a large-scale crisis and internal turmoil.
Earlier, Kursor reported that Syrian rebels launched another attack on Iran.