Lebanon’s area is ranked 170th on the globe (CIA, 2014). It really is smaller compared to the size of Connecticut, one of many smallest states in in the us. Moreover, Lebanon is one of the few democratic countries in the Middle East region. Regarding its economy, Lebanon is really a free market economy and contains an extremely long tradition of laissez-faire economics. Besides its coastal location on the Eastern Mediterranean coast, Lebanon is considered as the central ‘window’ of the center East to Europe, North Africa, and the rest of the world. Because of this, its economy went through some very prosperous times and was even once called the ‘Paris’ of the center East prior to the nation’s 15 year-long bloody civil war which ended in 1990.
Also, although Social Media Brand Management agency is tiny, additionally it is the most diverse nations in the world. Christians, Muslims, Druze, along with other minority sects are spread all around the small nation and also Lebanon’s political system is based on sectarian power sharing.
However, this diversity had played a pivotal role in the country’s problems. This diversity was a required condition of the country’s sectarian civil war and currently plays a significant role in its political paralysis, although other factors (mainly foreign) are to blame as well. There’s currently no acting President and the country’s rival political parties keep bickering and preventing rather than facilitating the country’s development.
Furthermore, Lebanon’s proximity to Israel has managed to get a foreign policy/proxy battleground for foreign nations, each using Lebanon because of its own selfish ends.
The sad political realities of the united states have significantly hurt the country’s economy. Also, since Lebanon is a service-based economy, this particular sector has taken the biggest hit.
Tourism plays a significant role in the country’s economy. According to the Lebanese Ministry of Economy & Trade (MOET), “Tourism has long been one of Lebanon’s leading economic sectors” (Economic Research Unit, 2010).
Furthermore, The World Travel & Tourism Council estimated that the travel & tourism sector in Lebanon contributed over $4 billion dollars in 2013 (World Travel & Tourism Council, 2014).
The travel & tourism sector made up about 10% of the economy in 2012 but that share dropped to 9% in 2013 (ibid, p. 14). This is due to the political situation in the united kingdom as well as some other factors. Moreover, the amount of tourist arrivals in the united kingdom kept decreasing from 2011 to 2013.
Because the tourism industry has been somewhat floundering before few years, the area for error becomes really small for businesses in this industry. The political & economic situations are squeezing tourist-related (TR) businesses in Lebanon. Which means that these businesses are forced to accomplish more to make up for increasing losses (or decreasing profits) and with fewer resources. There is no telling when the political & economic situation in Lebanon will improve especially since the civil war in neighboring Syria shows no signs of abating.
There are many techniques Lebanese TR businesses can adapt during these times such as implementing downsizing policies and reducing on marketing & advertising budgets. When economic recessions and tough times affect businesses, the first what to get eliminated are often marketing budgets. But especially since TR businesses should do more marketing to create up for lost businesses, this may not be a good idea.
One solution to this problem is to make the most of Social Media Marketing strategies since they cost little to no resources, ideal for the current economy in Lebanon. Social media allows TR businesses to overcome obstacles of limited budgets and decreased business.
Problem Statement
During the past few years, the positive effect of social media marketing on business has been extremely high (Kaplan et al., 2010; Stelzner, 2010; Treem & Leonardi, 2012, p. 143; Baker & Green, 2014).
Moreover, Facebook and Twitter fans of a specific brand are much more likely to recommend and buy from these brands than non-fans (Cruz & Mendelsohn, 2011). But, we won’t need to make sure of social media’s impact on business through research studies. For social media users, which include over 30% of the planet, this fact is known. A growing number of businesses are inserting Social Media marketing tools into their marketing strategies and, in some instances, have even become a fundamental element of their overall business strategy.
Naturally, one would expect that Lebanese businesses would quickly adopt Social Media Marketing as a key role in their overall marketing strategies but this is simply not the case. In terms of the center East and especially Lebanon, the spot is far behind the West in social media usage. Not only that, with regards to businesses mixed up in tourism industry, there’s much room for growth. Little investment in technology is keeping tourist businesses from maximizing marketing opportunities distributed by social media.
The Lebanese tourism industry is not taking advantage of social media marketing tactics even though the advantages of doing this are apparent. This presents a great problem especially since the economy is going by way of a very rough time.
Moreover, Lebanese TR businesses and businesses in Lebanon generally are not adopting social media marketing tools as they should. This presents an enormous problem in the waste of resources along with significant missed opportunities as a more substantial target audience can be reached via social media marketing enabling businesses that adopt social media tools gain a better potential for success and prosperity
July 27, 2024July 27, 2024
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