Economy of Ramallah

By 2010 Ramallah had become the leading center of economic and political activity in the territories under the control of the Palestinian Authority. A building boom in the early years of the 21st century saw apartment buildings and "five-star" hotels erected, particularly in the Al-Masyoun neighborhood. In 2010, "more than one hundred" Palestinian businesses were reported to have moved to Ramallah from East Jerusalem, because “Here they pay less taxes and have more customers." One local boasted to a journalist that “Ramallah is becoming the de facto capital of Palestine.” This boast was seconded by the New York Times which, in 2010, called Ramallah the "de facto capital of the West Bank. According to Sani Meo, the publisher of This Week in Palestine, "Capital or no capital, Ramallah has done well and Palestine is proud of its achievements.” Some Palestinians allege that Ramallah's prosperity is part of an Israeli "conspiracy" to make Ramallah the capital of a Palestinian state, instead of Jerusalem.

ASAL technologies, an information technology company in Ramallah, has 120 employees and is looking forward to "exponential growth