Lebanon’s space is ranked 170th on this planet (CIA, 2014). It’s smaller than the dimensions of Connecticut, one of many smallest states in in America. Furthermore, Lebanon is without doubt one of the few democratic international locations within the Center East area. Concerning its economic system, Lebanon is a free market economic system and has a really lengthy custom of laissez-faire economics. Along with its coastal location on the Jap Mediterranean coast, Lebanon is taken into account because the central ‘window’ of the Center East to Europe, North Africa, and the remainder of the world. Due to this, its economic system has gone via some very affluent occasions and was even as soon as referred to as the ‘Paris’ of the Center East earlier than the nation’s 15 year-long bloody civil warfare which led to 1990.
Additionally, though Lebanon is tiny, it’s also one of the crucial numerous nations on this planet. Christians, Muslims, Druze, and different minority sects are unfold everywhere in the small nation and even Lebanon’s political system is predicated on sectarian energy sharing.
Nonetheless, this range had performed a pivotal position within the nation’s issues. This range was a mandatory situation of the nation’s sectarian civil warfare and at present performs an vital position in its political paralysis, though different components (primarily international) are guilty as properly. There may be at present no performing President and the nation’s rival political events hold bickering and stopping somewhat than facilitating the nation’s improvement.
Moreover, Lebanon’s proximity to Israel has made it a international coverage/proxy battleground for international nations, every utilizing Lebanon for its personal egocentric ends.
The unhappy political realities of the nation have considerably harm the nation’s economic system. Additionally, since Lebanon is a service-based economic system, this explicit sector has taken the most important hit.
Tourism performs a major position within the nation’s economic system. In keeping with the Lebanese Ministry of Economic system & Commerce (MOET), “Tourism has lengthy been considered one of Lebanon’s main financial sectors” (Financial Analysis Unit, 2010).
Moreover, The World Journey & Tourism Council estimated that the journey & tourism sector in Lebanon contributed over $four billion in 2013 (World Journey & Tourism Council, 2014).
The journey & tourism sector made up about 10% of the economic system in 2012 however that share dropped to 9% in 2013 (ibid, p. 14). That is as a result of political state of affairs within the nation in addition to another components. Furthermore, the variety of vacationer arrivals within the nation stored reducing from 2011 to 2013.
Because the tourism business has been considerably floundering previously few years, the room for error turns into very small for companies on this business. The political & financial conditions are squeezing tourist-related (TR) companies in Lebanon. Because of this these companies are compelled to do extra to make up for rising losses (or reducing earnings) and with fewer sources. There isn’t a telling when the political & financial state of affairs in Lebanon will enhance particularly for the reason that civil warfare in neighboring Syria exhibits no indicators of abating.
There are lots of ways in which Lebanese TR companies can adapt throughout these occasions resembling implementing downsizing insurance policies and reducing again on advertising & promoting budgets. When financial recessions and difficult occasions have an effect on companies, the primary issues to get eradicated are normally advertising budgets. However particularly since TR companies must do extra advertising to make up for misplaced companies, this might not be a good suggestion.
One answer to this drawback is to benefit from Social Media Advertising and marketing methods since they value little to no sources, excellent for the present financial state of affairs in Lebanon. Social media advertising permits TR companies to beat obstacles of restricted budgets and decreased enterprise.
In the course of the previous few years, the optimistic impact of social media on enterprise has been extraordinarily excessive (Kaplan et al., 2010; Stelzner, 2010; Treem & Leonardi, 2012, p. 143; Baker & Inexperienced, 2014).
Furthermore, Fb and Twitter followers of a selected model are more likely to suggest and purchase from these manufacturers than non-fans (Cruz & Mendelsohn, 2011). However, we do not want to ensure of social media’s affect on enterprise via analysis research. For social media customers, which embrace over 30% of the world, this truth is understood. An increasing number of companies are inserting Social Media advertising instruments into their advertising methods and, in some circumstances, have even turn out to be an integral a part of their total enterprise technique.
Naturally, one would anticipate that Lebanese companies would shortly undertake Social Media Advertising and marketing as a key position of their total advertising methods however this isn’t the case. In the case of the Center East and particularly Lebanon, the area is much behind the West in social media utilization. Not solely that, in terms of companies concerned within the tourism business, there’s a lot room for progress. Little funding in expertise is conserving vacationer companies away from maximizing advertising alternatives given by social media.
The Lebanese tourism business is just not benefiting from Social Media Marketing techniques regardless that the benefits of doing so are obvious. This presents a terrific drawback particularly for the reason that economic system goes via a really tough time.