Lebanon History

Introduction

Lebanon was known as the 'land of milk and honey'. The concept of milk came from the snow-covered hill peaks and the concept of honey came from the aromatic timber. Place of Lebanon was described 71 times in the book of Holy Bible. King Solomon used only the greatest elements on the planet to develop the temple of Jerusalem including the “Cedars of Lebanon”. This nation of cedars has always served as an essential East-West link, attaching European countries, African-American, and Japan.

Economy of Lebanon

Lebanon economy is mainly related to services, which typically enhances the GDP ratio by 68 percent. The industry is mainly consists of a successful regional banking industry, trade and tourism. Most business activities are concentrated to the coastal regions of the state. Other business activities include construction industry and small-scale gardening, mostly powerful in the seaside plain and the Bekáa Area in the South. Farming is not a mush of a cash generating source for Lebanon and only contributes by 13 percent of the GDP. This indicates the need of country intensely in imports of food items. The business industry is also relatively small, mostly because of the small local market. Jewelry, concrete cement, prepared and processed food and drinks are among the basic exports of Lebanon.

Role of Lebanon Expatriates in Economy

Since 1991, the globalization of the Lebanese migration designed an unprecedented methodology. It tried to boost mainly instruct the European countries on a restricted platform to Arab oil dispatching nations around the world. Part of these emigrants came back to Lebanon: usually most of the emigrants to the Gulf nations around the world and to Sub-Saharan African areas. Another aspect continued to be in the nations around the world of getaway and was incorporated or partial incorporated there: usually an essential amount of the Lebanese migrants to developing nations around the world.

The Remittances from Lebanese Expatriates

Lebanese Migrants in common and especially those who were working in the gulf countries have a significant impact on the economy of Lebanon. The remittances are of essential significance in some times. This was the situation during the last 50 decades and specifically from 1973 to 1990,because of the “oil boom”, and the “wars for the others” on Lebanese area (1975-1990).These remittances had a restricted aspect (5% to 7% on nationwide income) in the 1950's, and their aspect declined during the 1960s (3,5% to 4,5% of nationwide income). These two decades were on the one side an interval of success for Lebanon, and Lebanon was getting migrants mainly from Arab beginning. However the Arabic oil dispatching nations around the world during the 1950's and the 1960s have substantial earnings from oil, but unique with their earnings in the nineteen 70's and the 80's. So the remittances were restricted. During the nineteen 70's and the 80's, the earnings of Arab oil generating nations around the world increased greatly, on the one side, and the inner financial climate of Lebanon dropped considerably because of the “Wars for the others” on Lebanese ...