Lebanon’s area is rated a hundred and seventieth in the globe (CIA, 2014). It is more compact than the size of Connecticut, a single of the smallest states in in America. Additionally, Lebanon is 1 of the few democratic international locations in the Middle East location. Relating to its economy, Lebanon is a cost-free market place economic climate and has a extremely lengthy custom of laissez-faire economics. In addition to its coastal location on the Eastern Mediterranean coastline, Lebanon is regarded as the central ‘window’ of the Middle East to Europe, North Africa, and the rest of the globe. Due to the fact of this, its economic system has absent by means of some quite prosperous times and was even when called the ‘Paris’ of the Middle East just before the nation’s 15 calendar year-lengthy bloody civil war which ended in 1990.
Also, although Lebanon is small, it is also a single of the most various nations in the globe. Christians, Muslims, Druze, and other minority sects are distribute all over the tiny country and even Lebanon’s political method is based on sectarian electricity sharing.
Nonetheless, this range had performed a pivotal part in the nation’s problems. This diversity was a essential problem of the country’s sectarian civil war and presently performs an essential role in its political paralysis, even though other variables (mostly overseas) are to blame as effectively. There is currently no performing President and the country’s rival political parties preserve bickering and avoiding instead than facilitating the country’s improvement.
Furthermore, Lebanon’s proximity to Israel has made it a overseas coverage/proxy battleground for overseas nations, each employing Lebanon for its own egocentric finishes.
The unhappy political realities of the region have considerably harm the country’s economic climate. Also, considering that Lebanon is a services-based mostly economy, this particular sector has taken the greatest strike.
Tourism performs a considerable role in the nation’s economy. According to the Lebanese Ministry of Economic climate & Trade (MOET), “Tourism has long been 1 of Lebanon’s foremost economic sectors” (Economic Research Device, 2010).
Moreover, The World Vacation & Tourism Council estimated that the vacation & tourism sector in Lebanon contributed over $four billion pounds in 2013 (World Vacation & Tourism Council, 2014).
The journey & tourism sector manufactured up about 10% of the economic climate in 2012 but that share dropped to nine% in 2013 (ibid, p. 14). This is due to the political scenario in the place as nicely as some other variables. In addition, the amount of vacationer arrivals in the region stored reducing from 2011 to 2013.
Since the tourism market has been fairly floundering in the earlier couple of many years, the place for error gets quite modest for firms in this sector. The political & economic scenarios are squeezing tourist-related (TR) firms in Lebanon. This implies that these firms are pressured to do much more to make up for growing losses (or reducing revenue) and with fewer resources. There is no telling when the political & economic situation in Lebanon will improve specifically since the civil war in neighboring Syria shows no indications of abating.
There are many approaches that Lebanese TR businesses can adapt for the duration of these moments this kind of as utilizing downsizing guidelines and chopping back again on advertising and marketing & marketing budgets. When financial recessions and difficult moments influence organizations, the 1st issues to get eliminated are generally marketing budgets. But especially given that TR firms need to do more advertising to make up for misplaced organizations, this may possibly not be a excellent thought.
1 answer to this dilemma is to get benefit of Social Media Advertising and marketing methods since they expense tiny to no resources, best for the existing financial scenario in Lebanon. Social media marketing and advertising makes it possible for TR organizations to conquer road blocks of limited budgets and lowered organization.
Throughout the earlier couple of several years, the positive result of social media on organization has been really substantial (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Eco-friendly, 2014).
Additionally, top reseller panel and Twitter enthusiasts of a particular brand are a lot more very likely to advocate and buy from these brand names than non-fans (Cruz & Mendelsohn, 2011). But, we never want to make confident of social media’s impact on organization by way of investigation reports. For social media end users, which consist of in excess of thirty% of the globe, this simple fact is known. Much more and far more businesses are inserting Social Media advertising and marketing equipment into their advertising approaches and, in some circumstances, have even turn into an integral part of their general organization method.
Normally, one would anticipate that Lebanese companies would speedily adopt Social Media Advertising and marketing as a important position in their general advertising and marketing methods but this is not the circumstance. When it will come to the Middle East and especially Lebanon, the area is much guiding the West in social media use. Not only that, when it comes to organizations involved in the tourism business, there is much room for progress. Minor expenditure in technologies is maintaining vacationer businesses absent from maximizing advertising opportunities presented by social media.
The Lebanese tourism market is not having edge of social media advertising techniques even even though the advantages of doing so are evident. This offers a fantastic dilemma specifically because the economic system is heading via a really tough time.