(MENAFN- Kuwait News Agency (KUNA)) Lebanese economy has drastically weakened due to the deterioration of the main sector, tourism, according to a specialized report published by the local press on Friday.
Only a million tourists came to the country by last fall, said the report, a figure that indicated sharp fall of the number of re-creation seekers, as compared to previous years.
Tourism businesses have dropped by 50 percent, due to deteriorating security conditions in Syria that impacted on conditions in Lebanon and prompted many regular visitors to abstain from coming.
Tourism secures up to 37 percent of the gross domestic product. The sector also makes up to USD 15 billion per year, and employs about 40 percent of the domestic labor 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 traveling to Lebanon, amid regional tensions, partly resulting from the Syrian crisis.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.