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Lebanon's Economy Weakened Due to A 50% Tourism Deterioration  Join our daily free Newsletter

MENAFN - Qatar News Agency - 03/11/2012

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(MENAFN - Qatar News Agency) In view of the 50% deterioration affecting the main sector ,tourism in Lebanon , the country's economy has drastically weakened .

According to a specialized report published by the local press here on Friday,only a million tourists came to the country by last fall, a figure that indicated sharp fall of the number of re-creation seekers, as compared to previous years, said the report.

Tourism businesses have dropped by 50 %, due to deteriorating security conditions in Syria that impacted on conditions in Lebanon and prompted many regular visitors to abstain from coming.

It is noted that tourism secures up to 37% of the gross domestic product (GDP) in Lebanon. The sector also makes up to USD 15 billion per year, and employs about 40 % of the domestic labour force.

Tourism institutions have incurred losses amounting USD seven billion this year.

Many of the regular tourists to Lebanon come from Gulf countries, where authorities have warned against travelling to Lebanon, amid regional tensions, partly resulting from the Syrian crisis.

 






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