Lebanon’s area is rated 170th in the planet (CIA, 2014). It is smaller sized than the measurement of Connecticut, a single of the smallest states in in America. Moreover, Lebanon is one of the few democratic international locations in the Center East region. With regards to its economic climate, Lebanon is a free market place economy and has a really lengthy tradition of laissez-faire economics. In addition to its coastal area on the Japanese Mediterranean coastline, Lebanon is regarded as as the central ‘window’ of the Center East to Europe, North Africa, and the rest of the entire world. Because of this, its economic system has absent by means of some really prosperous moments and was even when known as the ‘Paris’ of the Middle East ahead of the nation’s 15 12 months-long bloody civil war which finished in 1990.
Also, despite the fact that Lebanon is very small, it is also a single of the most assorted nations in the world. Christians, Muslims, Druze, and other minority sects are spread all over the tiny country and even Lebanon’s political method is based mostly on sectarian electrical power sharing.
Even so, this range experienced performed a pivotal role in the nation’s troubles. This range was a required issue of the country’s sectarian civil war and presently plays an important position in its political paralysis, though other elements (primarily international) are to blame as effectively. There is currently no performing President and the country’s rival political get-togethers preserve bickering and stopping instead than facilitating the country’s improvement.
Furthermore, Lebanon’s proximity to Israel has manufactured it a foreign plan/proxy battleground for international nations, every single using Lebanon for its personal selfish finishes.
The sad political realities of the place have drastically hurt the country’s economic climate. Also, given that Lebanon is a provider-based economy, this specific sector has taken the biggest strike.
Tourism performs a significant role in the nation’s economic system. In accordance to the Lebanese Ministry of Economic system & Trade (MOET), “Tourism has long been 1 of Lebanon’s major economic sectors” (Economic Study Device, 2010).
Moreover, Youtube Reseller Panel & Tourism Council believed that the journey & tourism sector in Lebanon contributed more than $4 billion dollars in 2013 (Entire world Vacation & Tourism Council, 2014).
The travel & tourism sector created up about ten% of the economy in 2012 but that share dropped to 9% in 2013 (ibid, p. fourteen). This is due to the political scenario in the place as properly as some other variables. In addition, the amount of tourist arrivals in the region kept decreasing from 2011 to 2013.
Considering that the tourism sector has been considerably floundering in the previous handful of many years, the place for mistake gets extremely little for organizations in this market. The political & economic conditions are squeezing tourist-associated (TR) organizations in Lebanon. This signifies that these organizations are forced to do a lot more to make up for rising losses (or decreasing income) and with less sources. There is no telling when the political & financial scenario in Lebanon will boost specifically considering that the civil war in neighboring Syria exhibits no indicators of abating.
There are a lot of approaches that Lebanese TR businesses can adapt during these instances this sort of as applying downsizing procedures and chopping back on advertising and marketing & advertising and marketing budgets. When economic recessions and difficult instances influence organizations, the 1st factors to get removed are normally advertising budgets. But specifically because TR businesses need to have to do more marketing and advertising to make up for misplaced companies, this may not be a great concept.
1 solution to this dilemma is to consider benefit of Social Media Marketing strategies because they cost tiny to no methods, perfect for the current financial circumstance in Lebanon. Social media marketing makes it possible for TR companies to overcome obstructions of minimal budgets and reduced business.
For the duration of the earlier number of several years, the constructive impact of social media on enterprise has been incredibly higher (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Inexperienced, 2014).
In addition, Fb and Twitter supporters of a distinct manufacturer are much more likely to advocate and buy from these manufacturers than non-fans (Cruz & Mendelsohn, 2011). But, we don’t need to make confident of social media’s influence on organization by means of research reports. For social media end users, which contain more than thirty% of the entire world, this simple fact is recognized. Far more and more organizations are inserting Social Media advertising instruments into their marketing approaches and, in some situations, have even become an integral part of their total enterprise strategy.
By natural means, one would expect that Lebanese organizations would swiftly adopt Social Media Marketing and advertising as a essential position in their total marketing methods but this is not the case. When it arrives to the Center East and specifically Lebanon, the area is much driving the West in social media usage. Not only that, when it will come to businesses included in the tourism business, there is much area for progress. Minor investment in technological innovation is keeping tourist organizations away from maximizing advertising possibilities provided by social media.
The Lebanese tourism market is not taking edge of social media advertising and marketing techniques even even though the positive aspects of carrying out so are clear. This offers a great dilemma particularly because the economic system is likely by way of a very tough time.