Lebanon’s region is ranked one hundred and seventieth in the entire world (CIA, 2014). It is scaled-down than the size of Connecticut, one particular of the smallest states in in The united states. Moreover, Lebanon is one of the couple of democratic countries in the Center East region. Concerning cheap panel , Lebanon is a cost-free marketplace economic climate and has a very extended tradition of laissez-faire economics. In addition to its coastal place on the Eastern Mediterranean coastline, Lebanon is regarded as 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 financial system has gone by means of some extremely affluent instances and was even once named the ‘Paris’ of the Middle East prior to the nation’s fifteen year-extended bloody civil war which ended in 1990.
Also, though Lebanon is small, it is also 1 of the most various nations in the entire world. Christians, Muslims, Druze, and other minority sects are distribute all above the little nation and even Lebanon’s political system is based mostly on sectarian electrical power sharing.
Even so, this variety experienced performed a pivotal part in the nation’s issues. This variety was a essential problem of the country’s sectarian civil war and at the moment plays an crucial role in its political paralysis, though other elements (mainly overseas) are to blame as effectively. There is at present no performing President and the country’s rival political get-togethers preserve bickering and avoiding instead than facilitating the country’s improvement.
Furthermore, Lebanon’s proximity to Israel has produced it a foreign coverage/proxy battleground for international nations, each and every employing Lebanon for its possess selfish finishes.
The unfortunate political realities of the region have significantly damage the country’s financial system. Also, given that Lebanon is a provider-based economic climate, this distinct sector has taken the biggest hit.
Tourism plays a substantial position in the nation’s economy. According to the Lebanese Ministry of Economy & Trade (MOET), “Tourism has lengthy been a single of Lebanon’s top financial sectors” (Financial Analysis Device, 2010).
Moreover, The Globe Travel & Tourism Council approximated that the journey & tourism sector in Lebanon contributed in excess of $four billion bucks in 2013 (World Vacation & Tourism Council, 2014).
The journey & tourism sector made up about 10% of the economic climate in 2012 but that share dropped to nine% in 2013 (ibid, p. fourteen). This is thanks to the political situation in the country as well as some other elements. Additionally, the number of tourist arrivals in the nation kept decreasing from 2011 to 2013.
Given that the tourism sector has been relatively floundering in the previous few several years, the place for mistake becomes very small for firms in this market. The political & financial scenarios are squeezing tourist-relevant (TR) businesses in Lebanon. This means that these businesses are compelled to do more to make up for increasing losses (or lowering revenue) and with much less resources. There is no telling when the political & financial circumstance in Lebanon will enhance specially since the civil war in neighboring Syria displays no symptoms of abating.
There are many techniques that Lebanese TR companies can adapt in the course of these times these kinds of as applying downsizing insurance policies and cutting back on advertising & advertising and marketing budgets. When financial recessions and difficult moments affect firms, the very first factors to get eradicated are normally advertising and marketing budgets. But particularly considering that TR firms want to do a lot more marketing to make up for lost businesses, this could not be a excellent concept.
One particular resolution to this dilemma is to just take benefit of Social Media Marketing and advertising techniques since they value tiny to no sources, excellent for the present economic predicament in Lebanon. Social media marketing and advertising permits TR firms to overcome road blocks of restricted budgets and reduced business.
In the course of the earlier handful of many years, the optimistic influence of social media on organization has been incredibly substantial (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Green, 2014).
Moreover, Fb and Twitter followers of a particular model are considerably much more probably to suggest and get from these brands than non-followers (Cruz & Mendelsohn, 2011). But, we don’t require to make confident of social media’s influence on enterprise through investigation research. For social media customers, which incorporate in excess of 30% of the entire world, this truth is recognized. A lot more and much more businesses are inserting Social Media advertising and marketing tools into their advertising and marketing techniques and, in some circumstances, have even turn into an integral portion of their all round organization method.
In a natural way, a single would assume that Lebanese businesses would speedily undertake Social Media Marketing as a key role in their overall marketing and advertising strategies but this is not the situation. When it comes to the Middle East and specifically Lebanon, the region is significantly guiding the West in social media use. Not only that, when it arrives to businesses involved in the tourism market, there is significantly area for development. Minor investment decision in technology is maintaining vacationer companies absent from maximizing advertising and marketing opportunities provided by social media.
The Lebanese tourism industry is not using edge of social media advertising methods even even though the advantages of doing so are obvious. This provides a excellent problem specially because the financial system is going through a really rough time.