Beirut Airport activity retracted by 54.52% year-on-year (YOY) in March 2021 as tourism activity is low due to worldwide pandemic.
Accordingly, the number of passengers was reduced drastically, falling from 1,207,882 passengers by March 2020 to 549,342 passengers by March 2021. In details, total arrivals alone dropped by an annual 56.02% reaching 235,548 arrivals. By the same token, departures decreased by 53.51% (YOY) to 296,589 passengers. In its turn, the number of transit passengers also slipped by a yearly 49.88% to 17,205 passengers by March 2021.
In addition, data on occupancy as per E&Y benchmark survey revealed that the occupancy rate at Beirut’s 4- and 5- stars hotels fell to a low of 29% by January 2021. And the average room rate rose by 142.1% from $88 in January 2020 to $213 in January 2021. However, the increase is inflated by valuing the room rates at the overvalued official exchange rate of 1,500 LBP per USD
The depreciation of Lebanese lira against the dollar combined by relaxation of restrictions due to the decrease in corona virus cases might attract new tourists this summer. Lebanon has become cheap for most of the world. We expect that the number of tourists will improve in Lebanon for summer 2021. Our outlook is positive, pending a stable political situation.
Beirut’s Airport Activity By March 2021