News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
27
o
Bekaa
19
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
22
o
North
30
o
South
26
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Concerts
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
27
o
Bekaa
19
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
22
o
North
30
o
South
26
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Lebanese expatriates: Pillars of economic stability
News Bulletin Reports
2024-01-21 | 13:08
High views
Share
Share
2
min
Lebanese expatriates: Pillars of economic stability
Lebanon has long relied on the contributions of its expatriate community to sustain its economy, especially during the recent economic crisis.
As the nation grapples with financial difficulties, the vital role played by Lebanese nationals working abroad becomes increasingly evident.
In contrast, remittances from expatriates have remained constant, providing a lifeline for many Lebanese families for more than 15 years.
In 2023 alone, expatriate remittances reached $6.4 billion, constituting nearly a third of the country's economy.
Tourism, amounting to $5.3 billion, ranks as the second-largest source of foreign currency, with a significant portion attributed to expatriates returning to their homeland.
The remaining foreign currency inflows come from industrial and agricultural exports ($3 billion), grants, aid, and miscellaneous transfers ($1 billion). On the other hand, foreign investments have decreased to near insignificance.
Given their substantial contribution, what is the significance of expatriate remittances?
Firstly, expatriate remittances serve as a crucial support system for Lebanese families, covering essential expenses such as food, healthcare, housing, electricity, and education. They act as a safety net without a robust social welfare system.
Secondly, this local consumption aids Lebanese businesses in maintaining their operations. For instance, a $100 remittance spent at a local store not only supports the shop owner but also boosts revenues, enabling them to pay their employees.
Thirdly, the influx of foreign currency contributes to stabilizing the exchange rate of the Lebanese lira against the dollar in the local market.
Therefore, the importance of expatriate remittances cannot be overstated.
They not only sustain families but also bolster local businesses and contribute significantly to the stability of the national economy.
The Lebanese diaspora serves as a lifeline, and acknowledging their impact is paramount for the country's economic resilience.
Lebanon News
News Bulletin Reports
Variety and Tech
Lebanese
Expatriates
Pillars
Economic
Stability
Next
Hezbollah drones, rocket strikes spark widespread panic: Sirens blare as Israeli towns enter maximum emergency
The Iranian Response: Awaiting Retaliation Amidst Escalating Tensions
Previous
Recommended For You
d-none hideMe
0
News Bulletin Reports
12:39
Brazil Blocks X Platform: Legal Dispute Sparks Fines and Access Restrictions
News Bulletin Reports
12:39
Brazil Blocks X Platform: Legal Dispute Sparks Fines and Access Restrictions
0
News Bulletin Reports
12:27
Severe Storms and Floods in Yemen, Saudi Arabia, and Sudan Highlight Urgency of Climate Action
News Bulletin Reports
12:27
Severe Storms and Floods in Yemen, Saudi Arabia, and Sudan Highlight Urgency of Climate Action
0
News Bulletin Reports
12:26
Humanitarian Pause in Gaza: Polio Vaccination Amid War and Health Threats
News Bulletin Reports
12:26
Humanitarian Pause in Gaza: Polio Vaccination Amid War and Health Threats
0
News Bulletin Reports
12:24
Algerian Fuel Grant to Lebanon: High Quality Confirmed Amid Speculations
News Bulletin Reports
12:24
Algerian Fuel Grant to Lebanon: High Quality Confirmed Amid Speculations
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2024-08-16
Hezbollah releases video 'Imad 4' showcasing missile launch facility
Lebanon News
2024-08-16
Hezbollah releases video 'Imad 4' showcasing missile launch facility
0
Middle East News
2024-08-29
Lufthansa extends suspension of flights to Tel Aviv and Tehran until September 4
Middle East News
2024-08-29
Lufthansa extends suspension of flights to Tel Aviv and Tehran until September 4
0
Lebanon News
2024-07-27
Stay tuned for Miss Lebanon 2024 pageant at 8:30 PM, broadcast live on LBCI and available for streaming on the website https://www.lbcgroup.tv/live/ar
Lebanon News
2024-07-27
Stay tuned for Miss Lebanon 2024 pageant at 8:30 PM, broadcast live on LBCI and available for streaming on the website https://www.lbcgroup.tv/live/ar
0
Lebanon News
2024-08-29
PSP Secretary-General Nasser to LBCI: There is a lack of understanding of our political convictions
Lebanon News
2024-08-29
PSP Secretary-General Nasser to LBCI: There is a lack of understanding of our political convictions
Videos
d-none hideMe
0
News Bulletin Reports
2024-08-26
LBCI Exclusive: Canada's Ambassador to Lebanon supports UNIFIL mandate renewal, aims to strengthen LAF capabilities
News Bulletin Reports
2024-08-26
LBCI Exclusive: Canada's Ambassador to Lebanon supports UNIFIL mandate renewal, aims to strengthen LAF capabilities
0
Lebanon News
2024-08-25
Hezbollah reveals footage of strikes in second phase of 'Day of Arbaeen' operation
Lebanon News
2024-08-25
Hezbollah reveals footage of strikes in second phase of 'Day of Arbaeen' operation
0
Lebanon News
2024-08-25
Hezbollah publishes new video revealing Israeli sites targeted in retaliation for assassinating its commander Fouad Shokor
Lebanon News
2024-08-25
Hezbollah publishes new video revealing Israeli sites targeted in retaliation for assassinating its commander Fouad Shokor
0
Lebanon News
2024-08-19
Israeli strike targets car in southern Lebanon, leaving one dead and several injured (video)
Lebanon News
2024-08-19
Israeli strike targets car in southern Lebanon, leaving one dead and several injured (video)
0
News Bulletin Reports
2024-08-13
Lebanon's authorities uncover five bodies in Kfarshima house: Here are the details
News Bulletin Reports
2024-08-13
Lebanon's authorities uncover five bodies in Kfarshima house: Here are the details
0
Lebanon News
2024-08-11
Lebanese Army finds main body of missile from Israeli Strike in Miryata forests
Lebanon News
2024-08-11
Lebanese Army finds main body of missile from Israeli Strike in Miryata forests
0
Lebanon News
2024-07-31
Mohammed Khair: Nine buildings damaged in Israeli attack; demolition planned for severely affected ones
Lebanon News
2024-07-31
Mohammed Khair: Nine buildings damaged in Israeli attack; demolition planned for severely affected ones
0
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
0
Lebanon News
2024-07-18
Two dead in Israeli airstrike on Jmeijmeh, south Lebanon (Video)
Lebanon News
2024-07-18
Two dead in Israeli airstrike on Jmeijmeh, south Lebanon (Video)
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
03:23
FPM leader Bassil tells Hezbollah: We support you in defending Lebanon, not in starting wars
Lebanon News
03:23
FPM leader Bassil tells Hezbollah: We support you in defending Lebanon, not in starting wars
2
Lebanon News
04:29
Israeli artillery shelling in Yohmor Al Shaqif, South Lebanon, causes fires near homes
Lebanon News
04:29
Israeli artillery shelling in Yohmor Al Shaqif, South Lebanon, causes fires near homes
3
Lebanon News
05:59
Major fire breaks out on outskirts of Naqoura, South Lebanon, due to Israeli drone
Lebanon News
05:59
Major fire breaks out on outskirts of Naqoura, South Lebanon, due to Israeli drone
4
Lebanon News
05:46
Firefighters persist in containing Yohmor Al Shaqif fire in South Lebanon following Israeli artillery shelling
Lebanon News
05:46
Firefighters persist in containing Yohmor Al Shaqif fire in South Lebanon following Israeli artillery shelling
5
Lebanon News
08:57
Speaker of Parliament Berri: Call for presidential election remains open, dialogue and successive sessions expected
Lebanon News
08:57
Speaker of Parliament Berri: Call for presidential election remains open, dialogue and successive sessions expected
6
Israel-Gaza War Updates
03:31
Axios: Gallant says Israel must choose between Philadelphi corridor and hostages
Israel-Gaza War Updates
03:31
Axios: Gallant says Israel must choose between Philadelphi corridor and hostages
7
Middle East News
03:02
CENTCOM says raid kills 15 ISIS members in Iraq
Middle East News
03:02
CENTCOM says raid kills 15 ISIS members in Iraq
8
Lebanon News
03:42
Israeli airstrikes target forests and outskirts in South Lebanon
Lebanon News
03:42
Israeli airstrikes target forests and outskirts in South Lebanon
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More