Lebanon’s area is rated one hundred and seventieth in the globe (CIA, 2014). It is smaller sized than the dimensions of Connecticut, one particular of the smallest states in in The us. Additionally, Lebanon is one particular of the number of democratic countries in the Middle East location. Relating to its economic system, Lebanon is a free of charge market economic climate and has a very prolonged custom of laissez-faire economics. In addition to its coastal area on the Jap Mediterranean coastline, Lebanon is deemed as the central ‘window’ of the Center East to Europe, North Africa, and the relaxation of the planet. Because of this, its economic climate has gone through some very prosperous times and was even once known as the ‘Paris’ of the Middle East prior to the nation’s 15 12 months-lengthy bloody civil war which finished in 1990.
Also, even though Lebanon is little, it is also 1 of the most assorted nations in the globe. Christians, Muslims, Druze, and other minority sects are spread all above the modest country and even Lebanon’s political program is based mostly on sectarian electricity sharing.
Nevertheless, this diversity had played a pivotal role in the nation’s difficulties. This range was a required problem of the country’s sectarian civil war and at present plays an essential part in its political paralysis, though other elements (largely foreign) are to blame as nicely. There is currently no performing President and the country’s rival political parties preserve bickering and preventing instead than facilitating the country’s development.
Furthermore, Lebanon’s proximity to Israel has created it a overseas policy/proxy battleground for foreign nations, each using Lebanon for its very own egocentric ends.
The unfortunate political realities of the place have substantially hurt the country’s financial system. Also, considering that Lebanon is a support-based economy, this certain sector has taken the biggest hit.
Tourism plays a significant function in the nation’s economic climate. In accordance to the Lebanese Ministry of Financial system & Trade (MOET), “Tourism has long been one of Lebanon’s top economic sectors” (Economic Study Device, 2010).
Moreover, The Entire world Journey & Tourism Council approximated that the travel & tourism sector in Lebanon contributed above $4 billion pounds in 2013 (Planet Travel & Tourism Council, 2014).
The journey & tourism sector created up about 10% of the economy in 2012 but that share dropped to nine% in 2013 (ibid, p. 14). This is because of to the political circumstance in the place as nicely as some other aspects. Additionally, the quantity of tourist arrivals in the region retained decreasing from 2011 to 2013.
Given that the tourism business has been relatively floundering in the past couple of several years, the area for error gets extremely little for businesses in this sector. The political & financial situations are squeezing tourist-related (TR) companies in Lebanon. This indicates that these firms are forced to do far more to make up for increasing losses (or decreasing income) and with less resources. There is no telling when the political & financial circumstance in Lebanon will boost particularly given that the civil war in neighboring Syria shows no indicators of abating.
There are a lot of techniques that Lebanese TR firms can adapt in the course of these occasions such as implementing downsizing procedures and cutting again on marketing & advertising and marketing budgets. When financial recessions and tough instances influence businesses, the initial issues to get eliminated are typically advertising budgets. But specially given that TR companies require to do much more marketing and advertising to make up for dropped companies, this may possibly not be a excellent notion.
A single remedy to this dilemma is to get gain of Social Media Marketing and advertising approaches given that they price small to no methods, excellent for the present economic situation in Lebanon. Social media advertising enables TR firms to conquer obstacles of restricted budgets and reduced company.
In the course of the previous couple of many years, the optimistic result of social media on enterprise has been extremely substantial (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Environmentally friendly, 2014).
Moreover, Facebook and Twitter fans of a certain brand name are a lot more likely to advocate and buy from these manufacturers than non-fans (Cruz & Mendelsohn, 2011). But, we never need to have to make positive of social media’s effect on enterprise through study research. For social media end users, which consist of above thirty% of the entire world, this simple fact is known. More and much more organizations are inserting Social Media advertising and marketing resources into their advertising and marketing strategies and, in some cases, have even turn out to be an integral element of their overall enterprise strategy.
Normally, one would assume that Lebanese companies would rapidly adopt Social Media Marketing and advertising as a essential part in their all round marketing and advertising techniques but this is not the case. When it will come to the Center East and specifically Lebanon, the region is significantly guiding the West in social media usage. smm panel that, when it arrives to businesses involved in the tourism industry, there is a lot place for expansion. Tiny expense in engineering is maintaining vacationer companies absent from maximizing marketing and advertising possibilities provided by social media.
The Lebanese tourism market is not getting benefit of social media advertising techniques even however the rewards of doing so are obvious. This offers a excellent dilemma specifically because the economic system is likely via a extremely rough time.