Getting into and around Jerusalem these days is no fun. The construction work for extending the light railway reminds one journalist of a siege situation. Improved public sector travel services in recent years has not resolved the rush hour congestion. New buildings are considered ugly if not gothic. And mass sell offs of real estate by the Greek Orthodox Church have sent land prices tumbling in some neighbourhoods.

Not all is doom and gloom. The Fattal chain is looking to open its fourth hotel in the holy city. Facebook recently held on of its first international events on behalf of small businesses in the capital. And in three months time, Jerusalem will be graced by the presence of Prince William from the British royal family.

Jerusalem continues to attract key high-tech investments. Mobileye, sold to Intel for US$15 billion, is located to the north of the city. OrCam, “which has developed a visual aid for the blind and has completed a funding round that values the company at $1 billion”, was created in Jerusalem. The expected opening of the American and probably other embassies in Jerusalem is likely to promote a spike in housing prices and also a need for additional support services.

The next few years look like to be a messy yet exciting growth path for Jerusalem’s economy. This will not just be featured in traditional sectors like tourism. Even a distillery is planned to open in the south of the city – the first round of funding is near complete.

In the meantime, the local populace and visitors will just have to put up with those awful traffic jams.