Reports LEBANON - UPDATE
Forces. His term in office was due to expire by the end of October although the first round of voting in parliament failed to elect a new President with 122 of the 128 members attending and the majority of voters casting blank ballots or even walking out.
It took more than two years to elect Michel Aoun in 2016 and the situation could leave Lebanon without a President when Aoun’s mandate expires.
Meanwhile, there is no guarantee a new government will find the consensus to obtain IMF loans the country desperately requires whilst the annual budget at the end of September failed to meet the economic reform measures that would pave the way for a deal with the IMF.
A HOLIDAYMAKERS DREAM
Located on the eastern coast of the Mediterranean Sea, Lebanon is the second smallest country in the Middle East and Arab world. It borders Palestine and Syria and due to its small size, population density and limited natural resources, relies heavily on importation.
Its geographic position means Lebanon has an important role acting as mediator and transit to and from Arab countries plus as a maritime trade outlet. It is also recognised as a commercial, banking, and cultural hub.
At the centre of the ancient world with beautiful natural landscapes it has also become a popular tourism destination offering a mix of coastal resorts, mountains, agricultural valley regions and Roman ruins.
Te country is divided into six muhafazat (provinces) which are then subdivided into 25 qadas (districts). Te provinces are Beirut, North Lebanon, Mount Lebanon, Beqaa, South Lebanon and Nabatieh.
Traditionally tourism has long been a critical part of the Lebanese economy and is a key income provider. However, it’s not been an easy road.
From the mid-50s to the beginning of the Civil War in 1975, Beirut was often referred to as the ‘Paris of the Middle East’ and prospered in what was known as the Golden Age, attracting wealthy Arab and European visitors.
Tere was major investment in the sector and Lebanon welcomed big hotel chains such as the Holiday Inn, Carlton and Intercontinental, who all opened their doors in Beirut.
By the early 1990s tourism infrastructure was developed and modernised further whilst there were incentives to attract more investment with other hotel chains opening up such as Marriott. By 2010 there were 2.17 million tourists arriving each year in the country.
P58 WIRE / PULSE / INSIGHT / REPORTS
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