But in the past few years, two neighbourhoods to the north and south of Old Jerusalem have undergone a spate of new development to keep up with tourist demand, revealing pockets of a modernised city amid otherwise historical sites.

BBC: Hip Jerusalem and historic Tel Aviv

Another impact of U.S. unconventional oil and gas development will be increased in electricity demand (occurring more dramatically in various localized pockets), directly resulting from investment in waves one and two.

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The financial industry boom allowed the city and the state to spend without consequence, fattened the pockets of service industry workers and led to an unfettered local real estate development boom.

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