Tourism revenues creeping up in Lebanon

Tourism revenues creeping up in Lebanon
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Published March 10th, 2013 - 03:23 GMT via SyndiGate.info

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Lebanon's tourism industry's  contribution to the Lebanese economy would reach $4.1 billion in 2013, new figures show
Lebanon's tourism industry's contribution to the Lebanese economy would reach $4.1 billion in 2013, new figures show
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World Travel & Tourism Council

The World Travel & Tourism Council estimated that the travel and tourism industry’s direct contribution to the Lebanese economy would reach $4.1 billion in 2013, up by 1.8 percent from 2012.

When measured against the nominal GDP, it accounted for 9.3 percent of the economy’s size in 2012, a share that would slightly drop to 9.0 percent in 2013, as per WTTC.

“This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services, as well as the activities of the restaurant and leisure industries directly supported by tourists,” WTTC said.

It added that direct employment in the tourism industry activities mentioned above would reach 117,500, representing 8.7 percent of total employment in Lebanon this year, down by 2.1 percent from 120,000 jobs (9.0 percent of total employment) in 2012.

The total contribution of travel and tourism to Lebanon’s GDP, including wider effects from investment, the supply chain and induced income impacts was at $11.1 billion in 2012 (25.1 percent of GDP) and is expected to grow by 2.3 percent to $11.4 billion in 2013.

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