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...Continue ReadingSummary of Lebanon. Complete edition / Investman
Lebanon, a small country located in the Middle East region.
There's a Mediterranean coast on the west.
North and East are surrounded by Syria, south bound by Israel.
When I see from the location, it's not difficult to guess.
Conflict and Civil War from neighboring countries
Must impact the economy of this country. Not more or less.
Even Lebanon doesn't have as much oil as other Arab countries in the Middle East region.
But did you know that people in this country have more GDP per capita than Thai people..
So what is the economy of Lebanon now?
Investman will tell you about it.
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Lebanon has an area of only 10,452 square kilometers close to Khon Kaen province.
But there are over 6.8 million population
Making population density in this country up to 650 people per square kilometer.
Density populations come from country's abundance.
Lebanese area is one of the most fertile areas in the Middle East area.
And by the Mediterranean coastline.
This land is so many people have come to colonize as a trade city since thousands of years ago.
Historically, this land was formerly the Phoenician Empire which has been famous for railroading and trade since 3,000 years ago, Kristol.
Before being mixed into the Roman Empire.
When I arrived in the Middle Ages, this land became a Christian community in the Crusade war.
Lebanese lands were taken over by the Ottoman Empire, which was the Muslim Empire until the Ottoman Empire collapsed after losing WWII, the British and France champions.
So the lands were brought into their own mandate.
By France, Mediterranean coastal lands take over.
Subsequently divided into northern Syria, drought and fruitful southern Lebanon.
Lebanese's fertility makes Beirut Capital become a major commercial hub of the region. Lebanese businessmen have developed capital into financial hub.
When rich, money comes to build a beautiful jar house building according to French influence until Beirut is nicknamed ′′ Paris of Middle East
When I get independence from France in July. B.E. 1943
Lebanese independence period, there are more Christians than Muslims.
So there is a national agreement that the president must be Christians.
But then when Muslims are more proportional, they start to offend.
There are several incident of presidential assassination.
Lebanon is the only country in the Middle East with Christians in the highest proportion.
It's about 35 % of the population, while another population of 60 % are Muslims.
Religious conflict led to Lebanese civil war that lasted over 15 years.
Since the year of July. 1975-1975 1990 Damage to the beautiful buildings of Beirut
In terms of the economy.
Lebanon is a fertile country so it exports many crops.
Especially crops growing in a Mediterranean climate.
Grapes, olives, fruits, citrus and nuts, including wine and olive oil.
But agricultural crops are not Lebanese's most important export products..
Lebanon's number 1 export product is 41 % gems and jewelry.
Year 2019, Lebanon exports these products to over 37,000 million baht.
Lebanon doesn't have many sources of minerals or gems.
With regard to Beirut is a trading and financial hub.
A Lebanese businessman is an international trade associate in Africa and Arab countries.
No import tax on mineral assets, metals and jewellery enables Lebanon to import precious mineral from African countries for cheap.
Plus, the smart Lebanese artisans and wage are almost half cheaper than European regional artisans.
Make Beirut one of the key gemstone hubs.
Tabbah company Lebanese jewelry company leaders in jewelry design
There are customers all over the world
Apart from agricultural produce and gems
With Lebanon's foundations of ancient kingdoms.
Lebanon has many ancient landmarks, Roman Theatre, Christ Church.
The Ottoman Mosque is a small country but has more than 5 cultural world heritage.
Tourism is a major economic sector. In 2018, there were 4.7 million tourists.
Make money over 2.6 hundred thousand baht.
Not much population but Lebanon has economic diversity
Make Lebanese economic size 1.8 trillion baht
Lebanese have GDP per capita 267,000 baht.
More than Thai people with GDP per capita, 237,000 baht.
However, since the Civil War in Syria.
Slow down Lebanese's economy, especially tourism sector
By the number of tourists dropped from the highest point in 2012, at 5.5 million to nearly 1 million people.
Reduced income has deficit Lebanon.
Government expenditure increasing, both from economic stimulating policies.
And to support over 1 million Syrian immigrants.
Lebanese public debt skyrocketed to 155 % of GDP
So the government needs to earn more income by trying to tax both cigarettes, oil tax and tax for phone calls via social media from Social Media such as WhatsApp, Facebook Messenger, FaceTime
This causes displeasure to the public that led to violent protests in 2019
Destroyed Lebanon's GDP in 2019, more than 5.6 % negative.
But that wasn't enough..
2020 Lebanon's economy was repeated by the COVID-19 outbreak.
Lebanon has more than 5,000 COVID-19 infected people amid a heavy outbreak in the region, especially neighboring countries like Israel.
Make tourism and economic activity halt
Repeat the broken economy. Let's get worse
Besides that, there was a recent incident unexpectedly..
Big bomb incident 2 ripple at Port Beirut on August 4
Heavy damage to Beirut, Lebanese economic hub.
Government has set for capital to become disaster areas.
And declared an emergency situation for 2 weeks
Nobody knows when this bad thing will end.
2020 was a heavy year for all countries
And the most tough country should have this country in it.. Lebanon
May everything go well.
#PrayForLebanon..
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References
-http://www.worldstopexports.com/lebanons-top-10-exports/
-https://atlas.cid.harvard.edu/countries/124/export-basket
-https://blog.blominvestbank.com/wp-content/uploads/2016/01/Lebanese-Jewelry-Industry-Radiant-yet-Opaque1.pdf
-https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=LBTranslated
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