Economic Perspectives – Lebanon
Lebanon is a culturally diverse and open country and its official language is Arabic, with English and French also frequently used in business practice with international business partners. Lebanon's strategic location, free market economy and liberal financial environment have traditionally played a key role in the growth of various sectors and industries.
The following sectors offer above-average sales opportunities:
Agriculture and livestock farming:
Lebanon's temperate climate, rich soil and abundant water resources allow it to stand out as an ideal location for agricultural activities in the region. Precipitation in the country remains relatively high, averaging 2.2 billion cubic meters per year, which is significantly higher than the regional average.
Agriculture and food industry
The Agri-food sector is a major contributor to the growth of Lebanon's industrial sector and is expected to continue to play an important role in the economy, driven by government support and private sector initiatives to increase its competitiveness.
Telecommunication Industry
The growing demand for IT and mobile services in Lebanon and the MENA region has led to massive investments in Lebanon's telecommunications infrastructure. The sector has achieved remarkable growth in recent years, driven by various policy initiatives and government decisions to modernize and support the expansion of the sector.
On July 1, 2015, the Ministry of Telecommunications launched the "Lebanon 2020 Digital Telecom Vision". This project is a 5-year plan aimed at renewing the telecommunications infrastructure in the country. The estimated investment amounts to USD 600 million. The aim is to make fiber optic connections and 5G connections available nationwide by 2020.
Tourism
The tourism sector is traditionally one of the leading economic sectors in Lebanon and represents an important source of income and employment. The direct contribution of travel and tourism amounted to USD 3.8 billion in 2018 and accounted for 7% of Lebanon's GDP.