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Lebanon’s travel, tourism industry to contribute 9.3 percent of GDP

The World Travel & Tourism Council (WTTC) estimated that the travel and tourism industry would contribute directly $2.59 billion to the Lebanese economy in 2009, equivalent to 9.3 percent of GDP, and direct industry employment will reach 149,800, representing 9.6 percent of total employment in Lebanon this year, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.
It added that since the travel and tourism industry touches all sectors of the economy, its real direct and indirect impact is even greater, and forecast it will generate $7.78 billion, or 28.1 percent, of overall economic activity in Lebanon in 2009, including 439,600 jobs, or one in every 3.6 jobs, representing 28.1 percent of total employment in 2009.
The WTTC projected the travel and tourism economy in Lebanon would grow by 3 percent per year in real terms between 2010 and 2019 compared to 4.3 percent in the Middle East and 4 percent globally over the same period of time, while the travel and tourism direct industry will grow by 3.1 percent per year in real terms during the 2010-19 period compared to 4.7 percent growth for the Middle East and 3.6 percent globally. Lebanon’s travel and tourism economy ranked 19th among 181 countries in terms of its contribution to GDP in 2009, while it ranked in 149th place worldwide in terms of its annualized growth rate over the 2010-19 period.

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