Slowdown hits tourism

Reservations went up after cabinet formation; comeback may not be enough

July 5, 2011- It is almost for certain that we have lost 500,000 tourists this year due to the turmoil in the region as well as the local uncertainty that had stemmed from the delay in the formation of a new cabinet, according to a report published by Al-Liwaa daily on Monday (July 4).

Al-Liwaa talked to a number of experts in the field of tourism. They all agreed that the tourism sector this year will suffer great losses, yet some were optimistic saying that if the size of loss is around 30 percent, compared to the outcome in 2010, it would be acceptable.

Head of the Tourism Institutions’ Union Pierre Ashkar said the reservations for July vary between 70 and 80 percent in Beirut and between 50 and 55 percent in Jounieh and the coastline. However, he said, the problem is in the Mt. Lebanon regions, Bhamdoun, Aley, Broumana, and Baabdat, where the occupancy rate this year hovers at around 35 percent while it would previously reach 60 percent.

Ashkar said revenues in the first two months of this year dropped by 53 percent, compared to figures of 2010.
Head of the Syndicate of Furnished Apartments’ Owners, Ziad Labban, said he was optimistic about the activity in the sector following the announcement of the cabinet lineup. He said the occupancy rate in the furnished apartments’ market in July jumped to 90 percent.

Labban ruled out concerns over the date of the fasting month of Ramadan, occurring in August. He said reservations until this date have reached over fifty percent.