The hotel sector generally contributes around US$10bn to the Lebanese economy, some 19 per cent of its GDP and the hospitality sector has been the backbone of the country’s economy. The industry employs around 200,000 people directly and 350,000 indirectly.
Essential information and facts about Lebanon:
Capital
Total Area Population Median age
Ethnic Groups Languages Currency
Beirut
10,
400sq.km 5.3 million 33.7 years
Religion Muslim, Christian, other Arab (95%), Armenian
Arabic (official), French, English Lebanese pounds (LBP)
Government type Parliamentary Republic Chief of State President Michel Aoun (since 2016)
Head of Government Prime Minister Najib Mikati (since 2021)
Elections President indirectly elected by National Assembly with two thirds majority vote. Next election due October 2022. Prime Minister appointed by President in consultation with National Assembly.
Unemployment 29.6% (January 2022) Tourism 2m
the same period in 2021 and almost 200,000 in 2020. Still a far cry from the 924,000 achieved for the same first half year in 2019.
However, in June this year the country saw 334,000 tourists of which 75 per cent were expats – many have been returning home, not just to holiday, but to bring medical and other vital supplies for family members.
Flights and hotels were said to be almost fully booked over the summer season whilst those tourists visiting are getting high value for their dollar and euros due to the currency exchange prices.
Apparently, the average occupancy rate in Beirut’s four and five star hotels reached 55.7 per cent in March this year (compared to 16 per cent in November 2020) whilst room rates have dropped by 10 per cent.
Prior to 2019 and the wave of nationwide protests the hospitality sector in Lebanon was generally thriving. Tat year Lebanon had
P60 WIRE / PULSE / INSIGHT / REPORTS
almost 200 hotels with a capacity for around 12,300 rooms. Most four and five-star hotels are concentrated in Beirut.
Te hotel sector generally contributes around US$10bn to the Lebanese economy, some 19 per cent of its GDP and the hospitality sector has been the backbone of the country’s economy. Te industry employs around 200,000 people directly and 350,000 indirectly.
But the protests, political tension, coupled with the Covid pandemic caused an immediate crisis and hundreds of businesses have since closed down causing some 50,000 job losses with a knock-on effect rippling throughout the supply chain also adding to further losses and closures.
Five-star hotels in Beirut claimed at the end of 2019 occupancy rates were down to single digits whilst many bars and restaurants struggled to run their business amid electricity blackouts and huge increases in the price of food and transports bills.
CASINO DU LIBAN
Despite the fact there is a large Muslim community in Lebanon, some gambling in Lebanon has been legal since 1959, whilst online gambling has been regulated since 1995. However, all sectors are heavily restricted.
Te 1950s and 1960s saw a period of prosperity in the region bolstered by tourism. As gambling was prohibited in neighbouring Arab countries Lebanon became an attractive location and illegal gambling was rife.
So, in 1954 the President Camille Chamoun passed a law which restricted gambling in the country and limited facilities to the Casino du Liban in a bid to control the spread of gambling. A tender at the time was awarded to Victor Moussa,
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108
