Lebanon’s location is ranked a hundred and seventieth in the globe (CIA, 2014). It is smaller than the dimensions of Connecticut, one particular of the smallest states in in The united states. Moreover, Lebanon is 1 of the few democratic nations in the Center East location. Regarding its economy, Lebanon is a cost-free market place economic system and has a quite long tradition of laissez-faire economics. In addition to its coastal place on the Japanese Mediterranean coastline, Lebanon is regarded as the central ‘window’ of the Middle East to Europe, North Africa, and the rest of the entire world. Because of this, its economic climate has long gone by way of some quite prosperous instances and was even when named the ‘Paris’ of the Center East ahead of the nation’s 15 calendar year-long bloody civil war which finished in 1990.
Also, although Lebanon is very small, it is also a single of the most varied nations in the entire world. Christians, Muslims, Druze, and other minority sects are spread all above the little nation and even Lebanon’s political program is dependent on sectarian power sharing.
Nonetheless, this diversity experienced performed a pivotal role in the nation’s troubles. This diversity was a necessary issue of the country’s sectarian civil war and at the moment performs an crucial position in its political paralysis, even though other aspects (largely international) are to blame as effectively. There is at present no performing President and the country’s rival political events preserve bickering and protecting against relatively than facilitating the country’s advancement.
In addition, Lebanon’s proximity to Israel has produced it a overseas plan/proxy battleground for overseas nations, every employing Lebanon for its possess egocentric finishes.
The unhappy political realities of the nation have substantially hurt the country’s economic system. Also, given that Lebanon is a support-primarily based financial system, this certain sector has taken the greatest hit.
Tourism plays a considerable position in the nation’s financial system. According to the Lebanese Ministry of Economic system & Trade (MOET), “Tourism has long been one particular of Lebanon’s foremost economic sectors” (Financial Research Unit, 2010).
Furthermore, more info & Tourism Council believed that the journey & tourism sector in Lebanon contributed over $4 billion dollars in 2013 (Globe Journey & Tourism Council, 2014).
The travel & tourism sector produced up about ten% of the economy in 2012 but that share dropped to nine% in 2013 (ibid, p. fourteen). This is thanks to the political scenario in the place as nicely as some other aspects. In addition, the amount of tourist arrivals in the country kept decreasing from 2011 to 2013.
Given that the tourism business has been relatively floundering in the previous handful of several years, the room for error gets very modest for organizations in this business. The political & economic circumstances are squeezing vacationer-related (TR) organizations in Lebanon. This indicates that these firms are pressured to do far more to make up for escalating losses (or lowering profits) and with fewer sources. There is no telling when the political & financial circumstance in Lebanon will enhance specially since the civil war in neighboring Syria shows no symptoms of abating.
There are a lot of approaches that Lebanese TR firms can adapt during these occasions this kind of as utilizing downsizing policies and slicing back on advertising and marketing & advertising and marketing budgets. When economic recessions and difficult occasions affect companies, the 1st items to get eradicated are usually marketing budgets. But specially because TR companies want to do far more advertising to make up for misplaced companies, this might not be a excellent concept.
One solution to this difficulty is to consider benefit of Social Media Marketing and advertising techniques because they expense tiny to no methods, best for the present economic circumstance in Lebanon. Social media marketing and advertising makes it possible for TR organizations to overcome obstacles of constrained budgets and diminished business.
For the duration of the past few many years, the good influence of social media on enterprise has been very large (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Inexperienced, 2014).
Additionally, Facebook and Twitter supporters of a particular brand are considerably a lot more very likely to recommend and buy from these makes than non-enthusiasts (Cruz & Mendelsohn, 2011). But, we don’t require to make positive of social media’s influence on organization by means of research reports. For social media users, which consist of in excess of 30% of the planet, this reality is recognized. Much more and much more firms are inserting Social Media marketing instruments into their marketing strategies and, in some instances, have even become an integral part of their total organization method.
Naturally, one particular would anticipate that Lebanese companies would quickly adopt Social Media Advertising and marketing as a crucial role in their general marketing and advertising strategies but this is not the scenario. When it arrives to the Center East and specially Lebanon, the area is far guiding the West in social media usage. Not only that, when it arrives to companies associated in the tourism industry, there is a lot place for expansion. Small investment in technology is retaining vacationer firms absent from maximizing marketing possibilities presented by social media.
The Lebanese tourism sector is not getting edge of social media marketing tactics even although the rewards of carrying out so are apparent. This presents a great issue specially because the economy is likely via a really rough time.