Region | Lebanon
Lebanon crisis has cost country $600m says tourism minister
Unrest over the past week cost the Lebanese economy as much as $600 million in lost revenue and the figure will rise if a political deadlock isn't broken, the country's tourism minister said.
- Bloomberg
- Published: 13:19 May 15, 2008
Beirut: Unrest over the past week cost the Lebanese economy as much as $600 million in lost revenue and the figure will rise if a political deadlock isn't broken, the country's tourism minister said.
"It is a disaster because we were preparing ourselves for a promising season in spite of the political problems,'' Joe Sarkis said in an interview from Beirut.
"If things do not go back to normal immediately, as we are now in the middle of May, it means that we are going to lose another seasonal year.''
Fighting between gunmen allied with the Hezbollah-led opposition and supporters of pro-Western Prime Minister Fouad Saniora erupted on May 7.
The clashes came after the government fired the security chief at Beirut's international airport following the discovery of an electronic surveillance system used by the Shiite group to monitor aircraft.
Hezbollah leader Hassan Nasrallah, whose group fought a 33- day war against Israel in 2006, said the system is needed to protect Lebanon from an Israeli invasion.
Lebanon has lost revenue because of the closure of the airport, suspension of flights and the cancellation of reservations by tourists, Sarkis said.
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