Lebanon’s spot is rated a hundred and seventieth in the globe (CIA, 2014). It is more compact than the measurement of Connecticut, 1 of the smallest states in in The us. Furthermore, Lebanon is one particular of the number of democratic countries in the Middle East location. Regarding its economy, Lebanon is a free market economy and has a quite extended tradition of laissez-faire economics. In addition to its coastal area on the Eastern Mediterranean coastline, Lebanon is considered as the central ‘window’ of the Center East to Europe, North Africa, and the relaxation of the world. Simply because of this, its economic climate has absent via some quite affluent times and was even as soon as known as the ‘Paris’ of the Center East ahead of the nation’s fifteen year-lengthy bloody civil war which ended in 1990.
Also, though Lebanon is tiny, it is also 1 of the most diverse nations in the entire world. Christians, Muslims, Druze, and other minority sects are unfold all over the little country and even Lebanon’s political technique is based on sectarian electricity sharing.
Even so, this diversity experienced played a pivotal position in the nation’s difficulties. This variety was a required issue of the country’s sectarian civil war and currently plays an important function in its political paralysis, even though other aspects (largely overseas) are to blame as effectively. There is at present no performing President and the country’s rival political parties preserve bickering and preventing rather than facilitating the country’s development.
Furthermore, Lebanon’s proximity to Israel has created it a foreign coverage/proxy battleground for foreign nations, every single using Lebanon for its possess egocentric ends.
The sad political realities of the nation have drastically damage the country’s economic system. Also, considering that Lebanon is a provider-based mostly economic climate, this certain sector has taken the premier strike.
Tourism performs a significant role in the nation’s economic system. In accordance to the Lebanese Ministry of Economy & Trade (MOET), “Tourism has extended been 1 of Lebanon’s major financial sectors” (Economic Study Unit, 2010).
Moreover, The Globe Vacation & Tourism Council approximated that the travel & tourism sector in Lebanon contributed in excess of $4 billion bucks in 2013 (World Vacation & Tourism Council, 2014).
The travel & tourism sector made up about ten% of the financial system in 2012 but that share dropped to nine% in 2013 (ibid, p. 14). This is because of to the political situation in the place as effectively as some other aspects. Furthermore, the amount of vacationer arrivals in the region stored reducing from 2011 to 2013.
Because the tourism business has been relatively floundering in the previous number of years, the room for error turns into extremely tiny for businesses in this sector. The political & financial conditions are squeezing vacationer-related (TR) organizations in Lebanon. This signifies that these organizations are forced to do far more to make up for increasing losses (or decreasing revenue) and with much less assets. There is no telling when the political & economic circumstance in Lebanon will increase especially because the civil war in neighboring Syria shows no indicators of abating.
There are numerous techniques that Lebanese TR firms can adapt for the duration of these moments this kind of as employing downsizing insurance policies and slicing back on marketing & advertising budgets. When financial recessions and tough times have an effect on companies, the 1st things to get removed are typically advertising and marketing budgets. But specially given that TR companies want to do far more marketing and advertising to make up for missing organizations, this may not be a good idea.
1 resolution to this problem is to take advantage of Social Media Marketing methods since they cost small to no resources, best for the present financial scenario in Lebanon. Social media marketing and advertising enables TR firms to conquer obstacles of minimal budgets and lowered organization.
For the duration of the earlier handful of a long time, the optimistic result of social media on enterprise has been very large (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Environmentally friendly, 2014).
In addition, Fb and Twitter supporters of a distinct model are considerably far more very likely to advise and acquire from these brand names than non-enthusiasts (Cruz & Mendelsohn, 2011). But, we do not require to make sure of social media’s influence on company by way of research studies. For social media customers, which consist of above thirty% of the globe, this fact is recognized. More and much more businesses are inserting Social Media advertising equipment into their marketing and advertising methods and, in some cases, have even turn into an integral element of their overall enterprise method.
Naturally, Youtube Reseller Panel would assume that Lebanese organizations would rapidly undertake Social Media Marketing and advertising as a important function in their all round marketing and advertising methods but this is not the case. When it arrives to the Center East and especially Lebanon, the area is considerably driving the West in social media utilization. Not only that, when it arrives to companies concerned in the tourism business, there is significantly place for growth. Tiny investment decision in technological innovation is keeping tourist organizations absent from maximizing marketing and advertising chances presented by social media.
The Lebanese tourism market is not having advantage of social media marketing techniques even however the advantages of undertaking so are clear. This offers a great problem specifically considering that the economic system is going by way of a quite tough time.