Home Editorial Staked in stability

Staked in stability

by Yasser Akkaoui

Summer is upon us, and in this post-election period, in the midst of the global recession, an air of optimism has washed over Lebanon. The pundits are predicting that we will end the year having welcomed 2 million tourists. There was a time when 1 million visitors were seen as a benchmark of good health for the national economy, but today — even with the spectacular political blips that Lebanon has experienced over the last few years — our pull remains irresistible.

The boom, if it happens, will surely boost the tourism sector’s share of the economy to $2.5 billion, create jobs and contribute to Lebanon’s image building (or should we say image re-building). No one has apparently asked where the surplus visitors will stay, and even a quick back-of-the-envelope calculation will show that guest houses from Bint Jbeil to Hermel will be overflowing.

This does not mean that Lebanon has achieved utopian perfection. Those who will not be among this summer’s visitors are Lebanese Jews. Jews are listed in the Lebanese Constitution as one of the country’s 18 officially recognized sects, but the Jewish community has all but disappeared in the last half century, its members having sought sanctuary abroad to take their place among the diaspora. Today the community numbers in the hundreds, and those who spend their weekends partying in Gemmayze should remember that before the area became a hub for Beirut nightlife, many of its stone ceilinged bars were shops inhabited by Jewish tradesmen and merchants. What makes Lebanon such a unique country and gives it color and flair in the region is the variety of religions living in relative harmony. Rebuilding the Magen Avraham synagogue would be the first step toward what we hope will be greater recognition, and reintegration, of Lebanon’s Jewish community.

Around the region the feel good factor is beginning to return, with yields from 2008’s last quarter restructuring slowly coming to harvest. Saudi Arabia is leading the way — in particular, the kingdom’s newly-regulated real estate market should go some way toward invigorating that economy — and this augers well for the rest of the region.

The political outlook also appears brighter. The rumbling on the streets of Tehran aside, the appointment of a new US ambassador to Damascus is a positive move as the rest of the region kisses and makes up. As ever, there is just one word of caution: if ever the Middle East party threatens to get out of control again, hands off Lebanon, please.

Even in Hermel, hotel owners now have a stake in stability.

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