imported 2024-03-17 17:43:07
The mobile penetration rate in Lebanon is generally reported to be at 28 percent, which is far behind other countries in the region. Although Marwan Hayek, Chairman and CEO of Alfa, one of the two government-owned telecom operators, believes that it is actually 55%. But still, this is significantly lower than that of neighboring countries such as Jordan (74%), or Saudi Arabia (78%).
Real estate prices have been rising quickly since the end of the Israeli-Lebanon war in 2006. But the real estate market in Lebanon is unique. Although prices are skyrocketing as they are in many other countries, the real estate market has little speculation.
The banking sector in Lebanon is one of the strongest in the region, based on solid fundamentals namely high liquidity, strict and stringent regulation by the central bank and strong policies that have been evolving in line with market needs and trends. The sector represents the backbone of the Lebanese economy Mohammed Hariri , president and CEO of BankMed
As long at there is peace in the Middle East, Lebanon is one of the best investment choices. This is not only because Lebanon has been growing in every sector, but because there is still time to get in on the ground floor of future growth; because Lebanon has a host of unmet needs. These include basic infrastructure requirements.
The motto of de Bustros and Château Kefraya is “Semper Ultra,” which means “Always the Best.” To everyone at Château Kefraya, it means that no matter how well they do, they are always striving to do better. But for de Bustros this obligation is not due to the grape, but to art. “In Kefraya,” he says, “we are not making wines, we are making Kefraya. The taste is a melody.”
In the ancient world, Lebanese wine was celebrated The Romans so celebrated the wines of the Bekaa Valley that they dedicated one of the largest temples to wine in the world—the famous Temple of Bacchus in Baalbek.
Lebanon has more archeological sites to see than any country in the world. You can go north to see the Crusader-era Citadel of Raymond de Saint-Gilles that looms over the city of Tripoli, and go on to visit Byblos, the oldest (7000 years) continuously inhabited site in the world, or Tyre and Sidon, from where the Phoenicians loaded their ships to trade across the Mediterranean.
In 2008, the first year of the Doha Agreement that signaled the end of internal violence, the economy grew by 8.5%, 9% in the following year, and is on course to grow 7% in 2010.
Today, Lebanon is still dominated by its banking sector, which comprises 35 percent of the economy. Lebanese banking is a home-grown industry, by which is meant that it is largely dominated by old families with a deep treasure chest of banking experience that guides them through both good times and bad.
Nevertheless, numerous challenges remain to be met. Chief among these are: reducing the national debt; privatizing services and industries (such as telecom ); repairing infrastructure damaged by neglect and war (presently electricity and some other services are cut for a few hours each day); increasing broadband coverage; and a host of other problems long neglected as a result of stalemated government.
