Tourisms revival: Empowering Lebanons economy amid unemployment woes

Tourisms revival: Empowering Lebanons economy amid unemployment woes

The Lebanese economic crisis continues with its negative repercussions on various sectors, causing the unemployment rate in Lebanon to increase by about fivefold.

This is amidst the prevailing living turmoil in the country, along with the collapse of the local currency, rising inflation rates, and the deterioration of purchasing power for many Lebanese, especially after numerous companies and institutions faced financial difficulties, leading them to reduce employee numbers, lay off some of them, and cut salaries.

These reasons have led to increased unemployment and worsening living and social conditions to the point where securing basic daily needs for many families has become challenging.

In parallel, the Central Administration of Statistics in Lebanon and the International Labour Organization have reported that the unemployment rate has risen from 11.4 percent between 2018 and 2019 to 29.6 percent in January of last year.

The study revealed that approximately one-third of the active workforce was unemployed at the beginning of the year, noting that "the unemployment rate among women is higher than among men."

Salary adjustments have not alleviated the distress. Despite modifications in wage and salary values, with the minimum wage reaching around 9 million Lebanese lira, nearly half of the workforce will be underutilized, a term indicating