In the winter season, ski resorts offer tourists slopes that are comparable to even the best resorts in Europe. No matter what the season, there is always something special to enjoy. The nature of Lebanon makes it the only country in the Arab world that embraces four seasons yearly. Lebanese cities are among the most famous names in ancient history and majestic ruins still stand today as a testimony to the greatness of people who lived in this land. Its rich culture and history have placed it on the must see list of every world traveler. Lebanon is famous for its exquisite beauty, diversity, glamour, European flavor, and hospitable people. It is important to note that Lebanon is ranked as 10th best country in terms of quality education and the 4th best country for math and science education in the world.
The Lebanese economy revolves around Agriculture, Tourism, Commerce, and Banking.īeirut the capital city of Lebanon has a very rich and robust nightlife hence attracting tourists who are heading towards the Middle East on vacation. As a matter of fact, English is rapidly becoming the first choice language that is used for business interactions in Lebanon. The capital of Lebanon is Beirut and the official language of Lebanon is Arabic but many Lebanese also speaks French and English. Lebanon shares borders with just two countries Israel and Syria. Lebanon is a country in Asia and it is located in the western part of the Asian continent. There are practically no restrictions on foreign investment. Lebanon has recently adopted a law to combat money laundering. There are no restrictions on foreign exchange or capital movement, and bank secrecy is strictly enforced. The Lebanese economy is service-oriented main growth sectors include banking and tourism.
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Lebanon has a competitive and free market regime and a strong laissez-faire commercial tradition. There are no restrictions on foreign exchange or capital movement. The major industrial sectors include metal products, banking, agriculture, chemicals, and transport equipment. As a consequence, interest payments consumed 48% of government revenues in 2016, thus limiting the government’s ability to make needed investments in infrastructure and other public goods. Lebanon also suffers from a very high degree of public debt, the third-highest in the world in terms of the ratio of debt-to-GDP. The institute of international finance forecasted GDP growth of only 0.7% for 2013.
However, the Lebanese economy was badly affected by the Syrian civil war. It has the 54th richest GDP per capita in the world, and it was forecasted that Lebanons GDP per capita would reach $20,000 by 2015, making it one of the strongest economies in the region. The IMF forecast a growth of 7% for Lebanons real GDP in 20 following 9% growth in 2009 and 8.5% in 2008. The economy of Lebanon is a developing economy, with a private sector that contributes to 75% of aggregate demand and a large banking sector that supports this demand.
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