Lebanon’s location is ranked a hundred and seventieth in the globe (CIA, 2014). It is more compact than the dimension of Connecticut, 1 of the smallest states in in America. In addition, Lebanon is 1 of the couple of democratic countries in the Middle East area. With regards to its economic climate, Lebanon is a totally free market financial system and has a quite lengthy custom of laissez-faire economics. In addition to its coastal place on the Japanese Mediterranean coast, Lebanon is regarded as the central ‘window’ of the Center East to Europe, North Africa, and the rest of the world. Since of this, its economic climate has absent via some extremely prosperous occasions and was even after known as the ‘Paris’ of the Center East just before the nation’s fifteen calendar year-prolonged bloody civil war which finished in 1990.
Also, though Lebanon is very small, it is also one particular of the most assorted nations in the world. google ads , Muslims, Druze, and other minority sects are distribute all over the modest country and even Lebanon’s political system is primarily based on sectarian energy sharing.
Nonetheless, this variety had performed a pivotal role in the nation’s problems. This variety was a essential condition of the country’s sectarian civil war and presently performs an important position in its political paralysis, though other factors (primarily overseas) are to blame as properly. There is presently no acting President and the country’s rival political get-togethers hold bickering and protecting against fairly than facilitating the country’s improvement.
Furthermore, Lebanon’s proximity to Israel has created it a overseas coverage/proxy battleground for foreign nations, every single using Lebanon for its possess selfish finishes.
The unhappy political realities of the nation have considerably damage the country’s financial system. Also, since Lebanon is a service-dependent economic climate, this specific sector has taken the greatest strike.
Tourism plays a important function in the nation’s economic climate. According to the Lebanese Ministry of Economic climate & Trade (MOET), “Tourism has prolonged been a single of Lebanon’s major economic sectors” (Economic Study Unit, 2010).
Moreover, The Globe Travel & Tourism Council approximated that the journey & tourism sector in Lebanon contributed above $four billion dollars in 2013 (Planet Vacation & Tourism Council, 2014).
The travel & 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 because of to the political scenario in the place as nicely as some other elements. Additionally, the quantity of tourist arrivals in the place stored lowering from 2011 to 2013.
Since the tourism sector has been somewhat floundering in the earlier few many years, the space for mistake gets to be quite tiny for firms in this industry. The political & financial scenarios are squeezing vacationer-related (TR) companies in Lebanon. This indicates that these companies are forced to do more to make up for rising losses (or decreasing revenue) and with much less resources. There is no telling when the political & financial circumstance in Lebanon will boost particularly because the civil war in neighboring Syria shows no indications of abating.
There are many approaches that Lebanese TR organizations can adapt throughout these moments these kinds of as utilizing downsizing policies and reducing back again on marketing and advertising & marketing budgets. When economic recessions and challenging moments influence companies, the 1st items to get eradicated are normally advertising and marketing budgets. But specifically considering that TR organizations require to do more advertising to make up for missing companies, this could not be a good idea.
A single resolution to this difficulty is to consider benefit of Social Media Marketing strategies because they price minor to no resources, excellent for the existing financial predicament in Lebanon. Social media advertising and marketing enables TR organizations to get over road blocks of minimal budgets and lowered business.
In the course of the previous couple of a long time, the optimistic impact of social media on company has been very large (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Inexperienced, 2014).
Additionally, Facebook and Twitter followers of a particular brand name are much more likely to advise and acquire from these brands than non-supporters (Cruz & Mendelsohn, 2011). But, we will not need to have to make confident of social media’s influence on business by means of analysis research. For social media users, which include more than 30% of the entire world, this simple fact is identified. A lot more and a lot more businesses are inserting Social Media advertising resources into their marketing techniques and, in some circumstances, have even grow to be an integral element of their general enterprise method.
In a natural way, one particular would anticipate that Lebanese firms would speedily adopt Social Media Marketing as a important position in their general advertising approaches but this is not the scenario. When it arrives to the Center East and especially Lebanon, the location is far guiding the West in social media use. Not only that, when it arrives to companies included in the tourism sector, there is considerably area for growth. Little expenditure in technology is retaining tourist firms away from maximizing advertising possibilities presented by social media.
The Lebanese tourism market is not getting advantage of social media marketing and advertising strategies even though the benefits of carrying out so are apparent. This offers a fantastic issue especially considering that the financial system is going by way of a very tough time.