Lebanon’s area is ranked a hundred and seventieth in the entire world (CIA, 2014). It is smaller than the size of Connecticut, a single of the smallest states in in The usa. Moreover, Lebanon is 1 of the handful of democratic international locations in the Center East location. Concerning its economic system, Lebanon is a totally free market economic climate and has a quite extended tradition of laissez-faire economics. In addition to its coastal location on the Japanese Mediterranean coastline, Lebanon is regarded as the central ‘window’ of the Center East to Europe, North Africa, and the rest of the world. Because of this, its economy has gone by way of some really affluent occasions and was even once called the ‘Paris’ of the Middle East before the nation’s fifteen year-lengthy bloody civil war which ended in 1990.
Also, despite the fact that Lebanon is tiny, it is also one particular of the most various nations in the entire world. Christians, Muslims, Druze, and other minority sects are unfold all above the modest country and even Lebanon’s political program is based on sectarian electricity sharing.
Nonetheless, this diversity experienced played a pivotal function in the nation’s problems. This variety was a required issue of the country’s sectarian civil war and at the moment plays an important position in its political paralysis, though other factors (primarily foreign) are to blame as effectively. There is presently no performing President and the country’s rival political events hold bickering and stopping instead than facilitating the country’s advancement.
Additionally, Lebanon’s proximity to Israel has created it a overseas plan/proxy battleground for international nations, every utilizing Lebanon for its possess selfish finishes.
The sad political realities of the country have drastically damage the country’s economic system. Also, considering that Lebanon is a service-primarily based economic system, this specific sector has taken the premier hit.
Tourism performs a significant position in the nation’s economic system. According to the Lebanese Ministry of Economy & Trade (MOET), “Tourism has long been one particular of Lebanon’s major economic sectors” (Economic Analysis Device, 2010).
Furthermore, The World Vacation & Tourism Council believed that the vacation & tourism sector in Lebanon contributed above $four billion pounds in 2013 (Planet Journey & Tourism Council, 2014).
The vacation & tourism sector created up about ten% of the economic system in 2012 but that share dropped to nine% in 2013 (ibid, p. 14). This is because of to the political situation in the region as nicely as some other factors. Furthermore, the number of vacationer arrivals in the country stored reducing from 2011 to 2013.
Because the tourism market has been relatively floundering in the earlier few years, the room for error turns into really little for companies in this industry. The political & financial situations are squeezing vacationer-related (TR) companies in Lebanon. This indicates that these firms are compelled to do far more to make up for rising losses (or reducing profits) and with fewer methods. There is no telling when the political & economic scenario in Lebanon will increase specifically considering that the civil war in neighboring Syria exhibits no signs of abating.
There are several ways that Lebanese TR companies can adapt for the duration of these times these kinds of as employing downsizing guidelines and chopping back again on marketing & advertising budgets. When economic recessions and hard occasions affect businesses, the very first items to get eliminated are generally marketing budgets. But specially given that TR organizations need to have to do a lot more marketing to make up for dropped businesses, this may not be a excellent notion.
1 resolution to this issue is to consider edge of Social Media Advertising and marketing techniques considering that they cost minor to no sources, perfect for the recent financial scenario in Lebanon. Social media marketing permits TR firms to defeat road blocks of minimal budgets and reduced business.
Throughout the earlier few a long time, the optimistic impact of social media on business has been extremely substantial (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Environmentally friendly, 2014).
Moreover, Fb and Twitter supporters of a particular brand are much much more most likely to suggest and get from these brands than non-enthusiasts (Cruz & Mendelsohn, 2011). But, we will not need to make confident of social media’s affect on company through study reports. For social media customers, which include in excess of thirty% of the planet, this simple fact is known. Much more and more companies are inserting Social Media marketing equipment into their advertising approaches and, in some cases, have even grow to be an integral element of their all round organization method.
Normally, one would assume that Lebanese firms would quickly undertake Social Media Marketing as a crucial part in their all round marketing strategies but this is not the circumstance. When it will come to the Middle East and particularly Lebanon, the location is considerably driving the West in social media usage. Not only that, when it will come to businesses associated in the tourism business, there is considerably space for progress. Small expense in technological innovation is retaining vacationer companies absent from maximizing advertising and marketing chances presented by social media.
The Lebanese tourism industry is not using advantage of social media advertising tactics even although the positive aspects of undertaking so are apparent. This provides a excellent issue especially since the financial system is heading by way of a quite rough time.