Liban : Lebanon to generate $4.3 BN from tourism this year
The World Travel & Tourism Council (WTTC) estimated that the travel & tourism (T&T) industry would contribute directly $4.3bn to the Lebanese economy in 2012, equivalent to around 10% of GDP, and direct industry employment will reach 129,500, representing 9.5% of total employment in Lebanon this year.
It expected the sector's direct contribution to the economy to grow by 4.5% in real terms in 2012 and its direct contribution to employment to rise by 3% this year.
It added that, since T&T touches all sectors of the economy, its real direct and indirect impact is even greater, and forecast it will generate $15.5bn or 35.5% of overall economic activity in Lebanon in 2012, including 461,000 jobs that represent 33.8% of total employment in 2012.
It expected the sector's overall contribution to GDP to increase in real terms by 4.4% this year and its aggregate contribution to employment to grow by 2.8% in 2012.