After two and a half years of political deadlock, Lebanon had finally witnessed by the end of October 2016 the election of a new president. This recent political development has spurred optimistic hopes regarding the country’s economic activity for the upcoming year. In fact, the economic slowdown of the past few years was mostly derived from the decelerating growth of households’ consumption and spending levels. Hence, it seems interesting to determine the actual situation of Lebanese families and what to expect in the coming few years.
In this context, Business Monitor International (BMI) released this week a report on Lebanon’s retail sector where the research firm reveals its forecasts on the Lebanese households’ spending trends in addition to the evolution of their number and income, for the period 2016 -2020. According to the report, households’ spending is expected to grow at a Compounded Annual Growth Rate of 6.4% between 2016 and 2020. With deflationary pressures painting the picture in 2015 and 2016 amid bearish international oil prices, the BMI’s report expected household spending power to expand with total household spending increasing from $27.51B in 2016 to $35.34B by 2020. Similarly, average spending per capita will rise from $4,594 in 2016 to $5,998 in 2020.
To read the full report, click on the link below: