growth industry in Jordan: Business prospects - Jordan

Jordan has succeeded in creating and developing a highly competitive Information and Communication Technology ("ICT") sector, which is considered one of the pioneer sectors in the Middle East and North Africa (MENA) region. Jordan offers the kind of lucrative ICT environment required by international companies. In the age of technology and innovation, the ICT sector in Jordan serves larger markets in the region and contributes significantly to the country's increasing globalization.

The Jordanian agricultural sector is one of the most competitive sectors in the Kingdom, recording strong growth and increasing its contribution to Jordan's national GDP to 4.9% in 2020/2021. The significant growth is primarily driven by domestic demand and demand in the Middle East and North Africa (MENA) region, to which Jordan has direct market access. Furthermore, its modern production technology, variety of products with high technical specifications and quality standards makes it the most competitive sector in the country.

Domestic demand for energy in Jordan has been growing tremendously recently. This growth in the energy sector is the result of industrialization, population growth and a growing economy. In order to diversify its energy sources, Jordan is looking for medium and long-term initiatives in a variety of energy sub-sectors. These include importing Liquefied Natural Gas (LNG), exploring for oil and gas, implementing an energy efficiency program, importing electricity from neighboring countries, and diversifying the types of fuel used to generate electricity. In combination with the favorable climatological conditions, technically skilled workforce, strong grid connectivity and high insulation and irradiation levels, Jordan is emerging as an ideal location for investment in renewable energy and clean technologies.

The industrial sector in Jordan is considered the most economically significant sector in terms of value added to the economy, labor availability, linkages to other sectors and level of technical competence. The Jordanian industrial sector consists mainly of the "manufacturing industry" sector, the "extractive industry" sector and the "electricity and water" sector. These activities are linked backward and forward with sectors such as transportation, insurance, agriculture and trade. The industrial sector is a high contributor to Jordan's GDP as it accounts for about 17.4% of GDP in 2020/21 and more.

 Jordan's transportation and logistics sector plays a key role in the Jordanian economy, contributing over 13,3% to GDP. It is growing at an annual growth rate of 6% and employs almost 7.6% of Jordan's human capital market, resulting in around 126,000 jobs. A total of 325 licensed transportation and logistics companies are currently operating in Jordan. Furthermore, the estimated annual growth in demand for transportation and logistics is between 5% and 6% until 2030; this is partly due to the increase in population, which makes the sector a promising prospect for significant investment opportunities.

The Jordanian healthcare sector is known for its high quality services, both regionally and internationally. Jordan's world-leading, internationally skilled workforce, state-of-the-art medical machinery and equipment, and high-quality medical facilities are helping to make Jordan's healthcare sector one of the fastest growing sectors in the country. There are currently a number of promising investment opportunities in Jordan's growing healthcare sector.

Jordan's fast-growing tourism sector has many promising niches and investment opportunities. Travel and tourism continues to be an extremely important pillar of Jordan's economy. Jordan boasts some of the most unique and iconic sites in the world such as Petra - one of the Seven Wonders of the World, the Dead Sea - the lowest point on earth, the Baptismal Site and the Wadi Rum desert, making the country a rich destination with a variety of tourist attractions.