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Jewellery Cluster in Jordan
1. The Jewelry Cluster in JordanCurrent Facts and Future ProspectsTamer Al-Nasser(elnasser@gmail.com)Talal Abu-Ghazaleh College of Business (TAGCB)The German Jordanian University
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3. Agenda Country Overview Overall Economic Performance Cluster Analysis Cluster Diamond Cluster Map SWOT Analysis Current Challenges Recommendations
4. Country Overview Population: 6,053,193 (July 2007 est.) Land Area: 89,342 sq km Labor Force: 56% of the population Total GDP: $15,832 Unemployment: 13.1% Median Age: 20.3 Sources: www.worldatlas.com, Central Bank of Jordan, Ministry of Foreign Affairs
15. Cluster Analysis Integral part of the culture (not luxury) Financial Security High disposable incomes and high population growth rates Very low transparency Family owned business.
16. SWOT Analysis Strengths: A growing rate of exports, reaching 18.2% during the years 1998-2005 Consensus to enhance the cluster and increase exports by increasing quality and targeting new markets Culture creates an almost steady local demand High caliber workers; although in small numbers Good understanding of the Local and regional tastes The country’s political stability.
17. SWOT Analysis Weaknesses: Low number of highly skilled labor force Training programs are incapable of providing the market the needed number and level of workers Difficulty to attract skilled foreign labor Although the Jordanian Jewelers Syndicate was established in 1973, its role is still modest.
18. SWOT Analysis Weaknesses: High fees by the Jordan Institute for Standards and Measurements (JISM) The Ministry of Interior Affairs demands a bank guarantee of JD5000 ($7052) on each workshop.
19. Opportunities: Governmental approach towards supporting growing industries and entrepreneurship (The Ministry of Industry and Trade, JEDCO, etc..) Proximity to GCC markets and ease-of-entry to other regional and international markets create an enormous opportunity for exporting Growth in the tourism industry - “Eco-jewelry”. SWOT Analysis
20. SWOT Analysis Threats: High competition from international jewelry production; especially from Italy Increases in Gold prices on a global level, affected by the record increase of crude-oil prices, the weak US dollar, and fears of recession.
23. Current Challenges Transparency Fluctuating demand on Gold Skilled labor challenges The current role of the Jordanian Jewelers Syndicate is still moderate
24. Current Challenges Child Labor Jordan Institute for Standards and Measurement (JISM) Environmental issues Copyright and IP
25. Recommendations Bigger role for the Jewelers Syndicate More international exposure Target new markets Strategic partners and an IPO New niches (state gifts, men items, baby jewelry)