A national rebranding effort by Lebanon will have a dramatic impact on redefining the way the world looks at that country, helping promote it as a major business and tourism destination like Brazil, Greece and Turkey, says a branding expert.
Ibrahim Lahoud, Director of Strategy and Brand Communication, BrandCentral, suggested that concerted nationwide rebranding initiatives would help further accelerate Lebanon's transformation into one of the world's premier tourist and business destinations, "taking into consideration its emergence as one of the few positive stories in 2009 with remarkable growth in its tourism industry and overall economy".
He, however, noted several gaps in the promotion of Lebanon, particularly in the area of tourism wherein a great number of people around the world are still unaware that Lebanon has so much more to offer than its cedar trees.
Another key measure that will enhance "Brand Lebanon" as a business destination, according to Lahoud, is to create dedicated districts that cater to various business and technological pursuits such as IT parks, banking and financial centres, and other business-centric development projects. Moreover, he emphasised the important role of public figures such as singers and actors as well as ordinary citizens to serve as brand ambassadors of Lebanon.
"An important milestone that underscores the importance of branding strategies is the recent top-ranking performance of Beirut in an exclusive list of places to go in 2009, which has certainly boosted Lebanon's image as a leading leisure, lifestyle and business destination."
He said that Lebanon's image needs to be promoted as one success story in the midst of the global economic downturn. He further pointed out that the Lebanese economy had been projected to enjoy a growth of three per cent in 2009 and four per cent in 2010, according to the latest issue of the International Monetary Fund's bi-annual World Economic Outlook, even as the Lebanese Government expects a much more impressive six per cent growth this year.
On the other hand, a recent report by London-based investment firm Blakeney Investors has described Lebanon as a safe banking haven because of abundant liquidity and unprecedented inflow of deposits. The same report also highlighted Moody's upgrade of Lebanon's local and foreign currency government bond ratings at a time when several countries around the world have been downgraded.
Lebanon's tourism sector also achieved dramatic growth, enjoying a 56.8 per cent surge in tourist arrivals for a total of 434,418 visitors in the first four months of 2009 compared with the same period in 2008.
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