$10 Billion Expected To Be Spent By Tourists In Lebanon This Year

$10 Billion Expected To Be Spent By Tourists In Lebanon This Year

Lebanon is expected to welcome over two million tourists this year, generating $10 billion in revenue, according to Tony Ramy, President of the Syndicate of Owners of Restaurants, Cafes, Nightclubs, and Pastries in Lebanon.

This projection comes despite recent challenges like the COVID-19 pandemic, Beirut Port explosion, and economic crises.

If Ramy’s predictions are accurate, the tourism sector could generate $40 billion over the next four years, provided that a new president is elected and the country’s economic recovery begins.

Last year, despite hardships, tourism spending exceeded $7 billion.

Lebanon is believed to have the potential to secure $10 billion annually from the rapidly growing sector. The establishment of 250 new restaurants, nightclubs, and hotels reflects this growth.

Furthermore, the country desperately needs hard currency inflows.

Although several countries have attempted to replicate Lebanon’s success, its tourism sector remains resilient. Nightclubs are set to reopen this summer after some closures.

The Saudi-Iranian agreement’s impact on the return of Gulf nationals to Lebanon, particularly Saudi, Emirati, and Bahraini tourists, is considered significant. These tourists tend to spend more time and money in the country.

Lebanon’s ability to attract two million tourists is supported by the inclusion of the Lebanese diaspora in the Ministry of Tourism’s count.

With political stability, the