Lebanon Opportunities

Loss assessment

Overall damage resulting from the explosion is substantial and ranges between $3.8 billion and $4.6 billion, with economic losses ranging between $2.9 billion and $3.5 billion, according to the ‘Beirut Rapid Damage and Needs Assessment’ report, released by the World Bank.

According to the World Bank, the Port of Beirut explosion is expected to cause up to 0.4 and 0.6 percentage point (pp) estimated declines in the growth rate of real GDP in 2020 and 2021.

Overall damage

$3.8 – $4.6 billion

Economic losses

$2.9 – $3.5 billion

Declines in the growth rate of real GDP in 2020 and 2021

0.4 – 0.6 percentage point

Commerce and Industry

According to the World Bank, there are an around 1,500 shops located in the central and eastern parts of Beirut including the Downtown area, Saifi, Ashrafieh, Mar Mikhael, Gemmayzeh, Karantina and Bourj Hammoud. Nearly 80 percent of these stores are microenterprises with less than five employees, whereas 13 percent of them are small, five percent are mediumsized and two percent large. Most of the businesses are located in residential buildings. The blast area also hosts four large commercial malls with shopping alleys, two of which are close to the port site and have been heavily damaged.

The Karantina area hosts ten to 15 medium-to-large sized industries including mills, food packaging and cement packing businesses as well as mattress factories and furniture workshops.

Sie lesen eine Vorschau. Registrieren Sie sich, um mehr zu lesen.

Mehr von Lebanon Opportunities

Lebanon Opportunities1 min gelesenMedical
Quod Vide* Response
* Go see in Latin The challenges caused by Covid-19 have pushed the business community and other players to come up with innovative solutions to face the pandemic. Manufacturers, startups, incubators/accelerators, NGOs, professionals, and universitie
Lebanon Opportunities1 min gelesen
Surge Or Decline In Prices?
Real estate sales more than doubled in terms of value in the first nine months of 2020 to LL15.2 trillion compared with the same period of last year. The limited supply and the surge in demand have predictably resulted in the rise in prices in ‘lolla
Lebanon Opportunities6 min gelesenSmall Business & Entrepreneurs
Business
ESA Business School has launched a computer coding school ‘ESA Coding Lab’ that will open next January. “We have teamed up with ITESCIA, a French information technology school which operates a ‘Coding Factory’, in order to benefit from their expertis