Lebanon

The Birth of Hope for Lebanese People... What About Trade Activity?

The Birth of Hope for Lebanese People... What About Trade Activity?

The tragic reality for the Lebanese has not changed between this year's Christmas and last year's, with a catastrophic difference in the exchange rate of the dollar. Last year, at this time, it had approached 20,000, while today they celebrate Christmas with the dollar reaching 46,000. Prices are calculated based on a dollar value of 50,000 and above, reflecting an increase of nearly 30,000. This has been the situation for the Lebanese since the onset of the crisis in the fall of 2019, leading to the start of the economic collapse. They go to sleep with one reality and wake up to numerous calamities. Despite this, the Lebanese have not lost hope for a resolution that might rescue them from the hell they are living in.

While the numbers indicate a significant influx of visitors to Lebanon during the holiday season, sources monitoring the tourism and commercial movement this season stated to "Anbaa" electronic news that it does not equal even 5% of the commercial activity seen in 2015, 2016, and 2017. Despite intermittent security disruptions, the sources described the "commercial and marketing activity as a movement without blessing," as people have gotten used to exploring market activity despite the excessive rise in fuel prices. The cost of traveling from Lebanese regions to nearby cities requires at least one million lira, and two million lira or more for farther areas. Moreover, clothing prices range from one million to ten million lira per piece, meaning a family of four needs at least 20 million lira or more to receive Christmas with new clothes, not to mention the costs of food items and the high prices of meat, which have become unaffordable for the poorer classes.

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