Lebanon’s region is rated one hundred and seventieth in the entire world (CIA, 2014). It is smaller sized than the dimension of Connecticut, a single of the smallest states in in The usa. Moreover, Lebanon is 1 of the few democratic nations around the world in the Middle East region. Concerning its economic climate, Lebanon is a cost-free market financial system and has a extremely prolonged tradition of laissez-faire economics. In addition to its coastal location on the Jap Mediterranean coastline, Lebanon is regarded as as the central ‘window’ of the Center East to Europe, North Africa, and the relaxation of the entire world. Since of this, its economic system has absent through some really prosperous occasions and was even when referred to as the ‘Paris’ of the Center East ahead of the nation’s fifteen yr-long bloody civil war which finished in 1990.
Also, though Lebanon is little, it is also 1 of the most diverse nations in the entire world. Christians, Muslims, Druze, and other minority sects are unfold all more than the tiny nation and even Lebanon’s political method is based mostly on sectarian energy sharing.
However, this variety experienced played a pivotal part in the nation’s troubles. This variety was a required problem of the country’s sectarian civil war and at the moment plays an essential function in its political paralysis, despite the fact that other factors (largely foreign) are to blame as properly. There is at present no performing President and the country’s rival political parties hold bickering and avoiding relatively than facilitating the country’s growth.
Furthermore, Lebanon’s proximity to Israel has made it a overseas policy/proxy battleground for foreign nations, each and every using Lebanon for its possess selfish ends.
The sad political realities of the nation have substantially damage the country’s economic climate. Also, considering that Lebanon is a provider-based financial system, this certain sector has taken the premier strike.
Tourism plays a substantial position in the nation’s economic climate. In accordance to the Lebanese Ministry of Economy & Trade (MOET), “Tourism has prolonged been one of Lebanon’s leading financial sectors” (Financial Research Device, 2010).
In addition, The Planet Journey & Tourism Council approximated that the vacation & tourism sector in Lebanon contributed in excess of $four billion dollars in 2013 (Globe Journey & Tourism Council, 2014).
The travel & tourism sector made up about 10% of the economy in 2012 but that share dropped to 9% in 2013 (ibid, p. 14). This is due to the political predicament in the nation as nicely as some other factors. Additionally, the amount of vacationer arrivals in the place stored reducing from 2011 to 2013.
Since the tourism sector has been fairly floundering in the past few several years, the place for error turns into extremely tiny for organizations in this sector. digital marketing agency & economic circumstances are squeezing vacationer-associated (TR) businesses in Lebanon. This implies that these firms are forced to do a lot more to make up for increasing losses (or reducing income) and with much less sources. There is no telling when the political & financial circumstance in Lebanon will increase particularly considering that the civil war in neighboring Syria demonstrates no indicators of abating.
There are a lot of techniques that Lebanese TR firms can adapt throughout these moments this kind of as utilizing downsizing procedures and reducing back again on advertising & advertising and marketing budgets. When economic recessions and challenging times affect businesses, the initial things to get eliminated are typically advertising budgets. But specifically since TR companies need to do more advertising and marketing to make up for misplaced companies, this might not be a excellent idea.
1 answer to this difficulty is to take edge of Social Media Marketing approaches given that they price tiny to no assets, ideal for the current economic situation in Lebanon. Social media marketing and advertising makes it possible for TR companies to defeat obstacles of limited budgets and diminished enterprise.
In the course of the past couple of a long time, the constructive effect of social media on enterprise has been very higher (Kaplan et al., 2010 Stelzner, 2010 Treem & Leonardi, 2012, p. 143 Baker & Green, 2014).
Moreover, Facebook and Twitter fans of a certain brand are a lot more very likely to advise and purchase from these brand names than non-supporters (Cruz & Mendelsohn, 2011). But, we do not require to make positive of social media’s impact on enterprise via research scientific studies. For social media end users, which contain more than 30% of the planet, this reality is known. A lot more and much more businesses are inserting Social Media marketing and advertising tools into their advertising and marketing techniques and, in some situations, have even turn out to be an integral part of their general enterprise method.
Normally, 1 would expect that Lebanese firms would swiftly adopt Social Media Advertising and marketing as a key role in their general marketing methods but this is not the scenario. When it will come to the Middle East and specially Lebanon, the location is much powering the West in social media utilization. Not only that, when it comes to organizations associated in the tourism sector, there is significantly area for progress. Minor investment in technology is retaining vacationer organizations away from maximizing advertising chances presented by social media.
The Lebanese tourism market is not having edge of social media marketing strategies even however the positive aspects of carrying out so are evident. This provides a wonderful dilemma specially since the economic system is heading through a extremely tough time.