According to Global Blue’s January to June 2022 “Globeshopper Spending” report for Lebanon, total tourist spending in Lebanon slumped by 48% by June 2022 compared to the same period in 2021. However, the only sector registering growth compared to previous year is the spending over lifestyle sector (spending below 300 euros) which recorded an increase of 61% YTD compared to same period last year. In fact, the world economy has been through a stressful period following the worldwide pandemic as well as the war in Ukraine in addition to the political turmoil and pre-elections period in Lebanon, thus limiting tourists’ income and spending in Lebanon and probably elsewhere.
In more details, total transactions’ distribution by Sector added 24% year to date (YTD), witnessing the highest increase of 90% in the Lifestyles sector by June 2022. We also note that the Lifestyles sector constitutes 59% of the Total number of Transactions in the period ranging from January to June 2022.
Moreover, Tourists from the Arab countries remained the largest spenders in Lebanon, with Emiratis, Syrians, Saudis and Kuwaitis grasping shares of 17%, 7%, 6% and 6% of total spending, respectively, while Egyptians and Qataris tourists had each a share of 5% of total spending. In details, spending evolution decreased yearly by 54% for Egypt, by 48% for the UAE, 46% and 42% for Syria and Qatar respectively. Moreover, spending has increased over lifestyle sectors YTD with 61% increase and Kuwaitis registered the highest trend for lifestyle spending, while all other sectors recorded a drop. Noting that the UAE still owns the largest concentration of transaction distribution over premium, affordable luxury, luxury and hard luxury transactions, whereas the biggest concentration over the lifestyle transactions was from the Syrians.
For the period extending from January to June 2022, 72% of shoppers’ spending was concentrated on Fashion & Clothing while 21% was spent on Watches & Jewelry. In more details, Fashion & Clothing spending declined by 48% YTD while Watches & Jewelry spending witnessed a drop of 42%.
It is worth mentioning that spending in Beirut has captured 84% year to date of total spending by regions, while Metn grasped 15%, and Baabda & Aley areas captured 1% only.
Spending Distribution By Globeshopper By January – June 2022:
Source: Global Blue