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Lebanese retail sector needs security, stability: Byblos Bank
- Lebanon: Wednesday, January 23 - 2013 at 05:25
Analysts have said Lebanon's 50-day nationwide discounts initiative launched at the beginning of the year to boost the country's ailing services sector has so far failed to achieve the desired results, The Daily Star has reported. "Frankly, the tourists and visitors did not stop coming to Lebanon over the past two years because prices are elevated," Nassib Ghobril, head of research at Byblos Bank told the daily. "Ten years ago we had successful shopping festivals during the offseason that were accompanied by media campaigns targeting expatriates as well as Arab nationals. But we had security and stability at the time, and the festivals and accompanying campaigns were based on that premise," Ghobril said.
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