The World Travel & Tourism Council (WTTC) estimated that the broad travel and tourism (T&T) industry in Lebanon contributed 19.8% of the country's GDP in 2024, compared to contributions of 8.4% of GDP in 2023 and of 18.9% of GDP in 2019. It also estimated that the T&T industry generated LBP716.3 trillion (tn) in revenues in 2024 relative to LBP302.7tn in 2023 and LBP954.6tn in 2019. The estimates represent the direct, indirect and induced impact of the industry on economic activity. The WTTC said that all figures are at constant 2024 prices and exchange rates.  Also, it pointed out that there were 315,000 jobs in the T&T industry in Lebanon in 2024 compared to 298,578 in 2023 and 416,600 jobs in 2019. As such, the industry accounted for 19.6% of total employment in Lebanon in 2024 compared to a share of 18.6% in 2023 and of 23% in 2019.  Also, it estimated the aggregate spending by international visitors in Lebanon at LBP519.7tn in 2024 relative to LBP201.9tn in 2023 to LBP820.7tn in 2019. It added that domestic spending on T&T reached LBP53.5tn in 2024 compared to LBP40tn in 2023 and to LBP77.8tn in 2019. Further, it noted that leisure spending in Lebanon reached LBP542.2tn, while spending related to business activities totaled LBP30.9tn in 2024.  In parallel, it expected the T&T industry in Lebanon to contribute to 24.4% of GDP in 2025 and 25.6% of GDP in 2035. It forecast the T&T industry to generate LBP889.9tn in revenues in 2025 and LBP,237.8tn in 2035, and to post a compound annual growth rate (CAGR) of 3.1% during the 2025-35 period. In addition, it anticipated employment in the T&T industry at 344,900 jobs in 2025 and 492,600 jobs in 2035, which would account for 21.3% of aggregate jobs in Lebanon in 2025 and for 25.2% of employment in 2035.  Also, it projected the aggregate spending by international visitors in Lebanon to stand at LBP618.7tn in 2025 and LBP789.8tn in 2035 and to post a CAGR of 2.2% during the 2025-35 period. Further, it forecast domestic spending on T&T at LBP66.7n in 2025 and at LBP113.6tn in 2035 for a CAGR of 5.2% in the 2025-35 period. (ICE BEIRUT)

Fonte notizia: Byblos Bank, July 21-26, 2025