Markets play a central role in the lives of refugees. Markets provide refugees with the goods and services needed for survival in the short-term, and influence their ability to thrive in the long-term. The moment Syrian refugees arrived in Jordan, they entered the market as both consumers and sellers.
Markets are also at the core of cash-based interventions. Cash-based assistance seeks to meet non-camp based refugees’ basic needs by enabling them to access local markets, while at the same time supporting the local economy. A well-functioning and expandable market is an integral part of the success of any cash-based assistance.
The Syrian refugee crisis impacted all segments of the Jordanian market. The arrival of upwards of 655,000 refugees transformed Jordan’s communities and marketplace. The crisis closed traditional trade routes and shook investors’ confidence in the economy. The International Monetary Fund (IMF) estimates that the Jordanian economy lost one percent of GDP per year of the crisis due to loss in exports and investment.