Gaza is going through one of the most severe economic collapses the world has seen in modern times. According to a UN report published in late November, the average income per person there is now just US$161 (£122) a year. Before 2007, when Israel imposed a blockade of Gaza after Hamas won elections and took control of the enclave, it was close to US$2,000.
This income drop has happened slowly over many years. But since the war between Israel and Hamas began in October 2023, Gaza’s economy has fallen apart at speed. The UN report suggests that in the space of just two years, Gaza’s economy has shrunk by 87% to US$362 million.
