Lebanon’s region is ranked one hundred and seventieth in the entire world (CIA, 2014). It is smaller than the dimension of Connecticut, a single of the smallest states in in The united states. Additionally, Lebanon is one of the handful of democratic countries in the Middle East region. With regards to its financial system, Lebanon is a free market place financial system and has a extremely extended tradition of laissez-faire economics. In addition to its coastal location on the Jap Mediterranean coastline, Lebanon is deemed as the central ‘window’ of the Center East to Europe, North Africa, and the relaxation of the planet. Because of this, its economic system has long gone by means of some quite affluent instances and was even when referred to as the ‘Paris’ of the Middle East just before the nation’s 15 calendar year-extended bloody civil war which finished in 1990.
Also, despite the fact that Lebanon is tiny, it is also one of the most varied nations in the planet. Christians, Muslims, Druze, and other minority sects are distribute all more than the tiny country and even Lebanon’s political system is based on sectarian power sharing.
However, this diversity had performed a pivotal position in the nation’s problems. This variety was a required situation of the country’s sectarian civil war and presently plays an critical part in its political paralysis, though other aspects (mostly overseas) are to blame as effectively. There is at the moment no performing President and the country’s rival political parties hold bickering and protecting against instead than facilitating the country’s development.
Moreover, Lebanon’s proximity to Israel has created it a international policy/proxy battleground for overseas nations, each and every making use of Lebanon for its possess egocentric finishes.
The unhappy political realities of the place have significantly hurt the country’s economy. Also, given that Lebanon is a provider-based economy, this specific sector has taken the premier strike.
Tourism plays a considerable role in the nation’s economic climate. In accordance to the Lebanese Ministry of Economic system & Trade (MOET), “Tourism has extended been 1 of Lebanon’s foremost financial sectors” (Economic Research Device, 2010).
Additionally, The Planet Vacation & Tourism Council believed that the travel & tourism sector in Lebanon contributed above $4 billion pounds in 2013 (Globe Vacation & Tourism Council, 2014).
The journey & tourism sector produced 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 circumstance in the country as properly as some other variables. Moreover, the variety of vacationer arrivals in the country retained reducing from 2011 to 2013.
Because the tourism market has been considerably floundering in the earlier handful of a long time, the place for mistake turns into quite modest for businesses in this industry. The political & financial conditions are squeezing vacationer-related (TR) businesses in Lebanon. This indicates that these companies are compelled to do more to make up for rising losses (or decreasing profits) and with less sources. There is no telling when the political & economic scenario in Lebanon will increase specially because the civil war in neighboring Syria displays no indications of abating.
There are many approaches that Lebanese TR businesses can adapt in the course of these times these kinds of as applying downsizing policies and reducing again on advertising and marketing & advertising and marketing budgets. When economic recessions and hard times affect firms, the 1st factors to get eliminated are generally advertising and marketing budgets. But specially since TR firms want to do a lot more advertising to make up for dropped organizations, this may not be a excellent idea.
One resolution to this problem is to take advantage of Social Media Advertising strategies considering that they cost minor to no methods, perfect for the recent economic predicament in Lebanon. Social media marketing makes it possible for TR organizations to defeat obstacles of minimal budgets and reduced organization.
For the duration of the earlier couple of a long time, the good effect of social media on organization has been really high (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Eco-friendly, 2014).
Additionally, Fb and Twitter followers of a specific manufacturer are a lot far more probably to recommend and get from these brands than non-fans (Cruz & Mendelsohn, 2011). But, Likeslive will not need to make sure of social media’s affect on enterprise by way of investigation reports. For social media consumers, which contain in excess of 30% of the planet, this simple fact is recognized. A lot more and much more companies are inserting Social Media advertising and marketing instruments into their advertising and marketing strategies and, in some instances, have even become an integral portion of their general company strategy.
Normally, 1 would expect that Lebanese businesses would rapidly undertake Social Media Advertising and marketing as a essential function in their all round marketing strategies but this is not the scenario. When it will come to the Center East and specially Lebanon, the area is much behind the West in social media use. Not only that, when it will come to firms associated in the tourism sector, there is a lot area for progress. Minor expenditure in engineering is keeping tourist firms away from maximizing advertising and marketing chances offered by social media.
The Lebanese tourism market is not using edge of social media advertising tactics even although the benefits of performing so are apparent. This provides a fantastic issue specially given that the economic system is going by means of a extremely rough time.