It's my favorite historical fallacy, "Zionism was spontaneously generated by the Balfour Declaration and/or Holocaust"!
By 1914, a movement for a Jewish nation had been bubbling around the European Jewish collective conscience for decades. The first World Zionist Congress was in 1897, and Petach Tikva (generally regarded as the first modern Zionist settlement) had been founded in 1878. By 1914 there were about 100,000 Jews in Palestine (mostly European), out of the total of 700,000 or so people.
Note that this well predates the rise of fascism or anything approaching the Holocaust, and the development of Zionism proper even predates the vicious pogroms of 1903-06.
Ottoman authorities were fully aware of the Zionist project and, frankly, mostly ignored it. On the one hand they liked the extra tax income and on the other they didn't really care about the local Arabs. The Young Turks were, in general, in favor of Zionism, both ideologically because they liked European-style nationalism, and also practically because it weakened the Arabs on the periphery of the Empire.
Contrast this with the British, who did their best to keep Arab unrest down and after a few years in control of the territory heavily capped Jewish immigration.
Theodore Herzl had also met with Kaiser Wilhelm II in 1898, reportedly finding the Kaiser lukewarm but not hostile per se to the Zionist cause.
The upshot, of course, is that a Central Power victory would probably see Jewish development in Palestine continue at least as well as OTL, and possible much better. Ottoman authorities will likely at worst ignore the Zionists and at best prop them up against the Arabs. Germany may well provide material support (especially in the form of arms and military training), and could even hypothetically encourage Jewish emmigration from German Poland along a Berlin-Istanbul railway.