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FINANCIAL NEWS
Lebanon’s tourism sector remains stable despite odds
25 Jul 2016
(MENAFN) Revenues produced by tourism in 2010 reached USD9bn, whereas the hospitality sector’s contribution to GDP amid the period from 2009 to 2011 reached 12 percent.
Recently, the sector’s direct contribution to GDP is 8 percent, and it rakes in USD3.2bn in revenues, fewer than half what it used in 2010.
Moreover, today tourists from Egypt and Iraq seem to have replaced tourists from the Gulf, they are incomparable since Gulf nationals stayed for a long period in Lebanon.
In addition, tourists from the Gulf used to spend USD5.000 per week in Lebanon, as compared to other nationalities, like Egyptians, that spend almost USD1.000 per week.
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