It was the beginning of the end for the Turkish Ottoman Empire. The Turks were driven out of Israel in 1917 by General Allenby of the British Expeditionary Forces, and paved the way for the re-birth of the State of Israel and a Jewish Homeland (as declared by the Balfour Declaration in 1917). Until 1917, Israel was part of the Turkish Ottoman Empire and was referred to as the Palestinian Province of Syria. After it was liberated by the British and French, the Palestinian Mandate was created in 1922 or 1923 (I think), and anyone in that territory was referred to as ‘Palestinian’. However, there has NEVER been a Palestinian State, I don’t believe there ever will be.
There was an acceleration of the collapse of the Ottoman Empire, but Bismarck’s treaty system had as part of its underlying motivation, big-power cooperation in the dismantling. It was already on the crumble.