Finance

A Peek to Lebanese Economy: Civil War, Beirut Blast and Pandemic

3 Mins read

In this article, I will share my views on the Lebanese economy with you.

My friends from Lebanon, whom I talked to, said that political impotence is dominant, unemployment is increasing, and the country will always be mixed up due to the crisis deepening in the economy with the cessation of tourism, and even that they are so afraid for the first time since the civil war. However, they had just healed the wounds of the civil war.
Since I love the country when a job offer came from Lebanon, I had an attempt to open a branch with the idea that it could make a profit, I went to Lebanon, did the field research, and was thinking a lot about what we can do.
Once we were alone, the young lady, our translator, warned that you don’t come here for work, the crisis is very deep, and the beauty of the country and the attention of the authorities do not deceive you. Upon this, I had turned my travel more into a touristic trip, traveled the small country throughout, and had the chance to examine its political and commercial structure on site.

Lebanese Economy

The Lebanese economy is tourism-based.

Beirut is an incredibly beautiful capital city. While its sea and port are the lifeblood of the country and the most important of its gates to the world, when we look deeper, it was the tourism sector that kept Lebanon alive. Huge casinos and the entertainment sector were at the forefront. When we went to luxury entertainment venues, from employees to artists, they were all foreigners. The partners of most of these places were again foreigners.

There is a flow of money that we call hot money, which is very important for the economy. Many people I interviewed said they are sending their salaries to their families. Also, a venue owner I talked to said that they are using their profits to launch a better business in Istanbul.
In summary, money from tourism was exchanging hands between bosses, employers, and customers, who were also non-Lebanese. There have been popular uprisings in the country against poverty and high cost, and that’s why the government resigned. However, despite this, nothing was okay.

For everything to start to get better, the infrastructure of the economy must be solid. No country with a bubble and crippled economy can survive in the slightest wave. The Kurdistan region should learn many lessons from Lebanon, and accordingly, it should implement economic programs and move to the production phase immediately. If we do not start production, if we do not design the country accordingly, and if we do not learn to be self-sufficient, our underground wealth will pull us to the bottom. Lebanon did not think of the future just because the country’s tourism was alive, and unfortunately it is going downhill right now, as it does not constitute its infrastructure.

Lebanon is Sinking, Not Tourism

The 5-star hotels in the center of Beirut were closed due to heavy damage after the port explosion. Consequently, people working in these hotels and businesses were unemployed. It is very easy to direct the people falling into unemployment and poverty and turn them into killing machines. All legal and illegal organizations in the Middle East are already in ambush to capture them and attract them to their ranks.

The economic crisis that existed with the Beirut port explosion deepened further and increased unemployment. Subsequently, with the effect of the Corona virus that swept the world, the army of the unemployed has emerged. More precisely, the real Lebanon has emerged.
Foreign employers and employees have returned to their countries. Unfortunately, when the Pandemic is added to the unemployment rate of 35% in the country before the explosion, the economic crisis will deepen and pull the country to the bottom.

On the other hand, the Lebanese Hezbollah has taken over the poor neighborhoods and placed the children of these poor families in jobs, and gained complete control in the companies it founded.

In places where Hezbollah prevailed, Hezbollah did not interfere with people’s dress code, lifestyle, and religious belief, and achieved a perfect balance. By protecting these people, Hezbollah is strengthening its foundations considerably and will not hesitate to use them as a political tool in the future.

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