Lebanon’s rebranding 'to step up growth'
Beirut, July 28, 2009
Lebanon’s intensive nationwide rebranding initiatives will help accelerate Lebanon’s transformation into one of the world’s premier tourist and business destinations, according to a branding expert.
The government and the business sector need to take advantage of new developments to collaborate in creating fresher and more attractive images for “Brand Lebanon,” said Ibrahim Lahoud, director of strategy and brand communication, BrandCentral, a leading strategy and design consultancy.
Lahoud pointed out that the national rebranding efforts will have a dramatic impact in redefining the way the world looks at this key Middle Eastern country, helping promote Lebanon as a major business and tourism destination like Brazil, Greece and Turkey.
He also 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 prominent public figures such as singers and actors as well as ordinary citizens to serve as "Brand Ambassadors" of Lebanon.
“Lebanon is one of the rare success stories of the global financial crisis,” said Lahoud. “Branding efforts focusing on its unique geography and way of life have opened up numerous opportunities in growth areas such as tourism, banking and construction, which continue to generate substantial capital from internal and external investors.”
“Another 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 added.
“Furthermore, it is critically important to maintain the momentum generated by the country as a tourist hotspot and a safe and secure business destination,” Lahoud continued.
“As such, there is an urgent need to develop more specific branding ideas and strategies that will further excite the world over the positive transformation of Lebanon. Although the Lebanese economy has gained so much this year, it is important to remember that competition remains tough as ever with other international travel and business destinations likewise aiming to improve their own stake in the global market.
“Our goal is to ensure that ‘Brand Lebanon’ remains firmly entrenched in the consciousness of our target audiences all over the world.”
Lahoud noted that significant achievements of the country need to be promoted vigorously to further enhance Lebanon's image as one of the most inspiring success stories in the midst of the global economic downturn.
He further pointed out that the Lebanese economy has been projected to enjoy GDP growth of 3 per cent in 2009 and 4 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 6 per cent growth this year.
Lebanon’s projected growth rate in 2009 easily eclipses the average growth in the Middle East (2.5 per cent) and among emerging and developing countries (1.6 per cent), while performing way above advanced economies and the world economy, which will record average negative growth rates at -3.8 per cent and -1.9 per cent, respectively.
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 als