Passengers departing at Beirut Airport, on July 29, 2024. (Archive photo: Anwar Amro/AFP)
Will Lebanese nationals head abroad in large numbers this summer, despite lingering regional instability and inflation fueled by the regional war launched in February by the U.S. and Israel, with no peace agreement yet in sight?The market remains uncertain, although several industry players, particularly in the accommodation sector, reported a rebound in bookings since the signing of the U.S.-Iran memorandum of understanding in mid-June.For now, however, the uptick has not been enough to offset a broader downturn driven by disruptions to air travel and rising airline operating costs, including higher fuel prices and longer routes due to airspace closures.Airfares have climbed, driven in part by a surge in oil prices, which have since fallen by more than 30% from recent peaks in May. The increases vary by region, with long-haul routes...
Will Lebanese nationals head abroad in large numbers this summer, despite lingering regional instability and inflation fueled by the regional war launched in February by the U.S. and Israel, with no peace agreement yet in sight?The market remains uncertain, although several industry players, particularly in the accommodation sector, reported a rebound in bookings since the signing of the U.S.-Iran memorandum of understanding in mid-June.For now, however, the uptick has not been enough to offset a broader downturn driven by disruptions to air travel and rising airline operating costs, including higher fuel prices and longer routes due to airspace closures.Airfares have climbed, driven in part by a surge in oil prices, which have since fallen by more than 30% from recent peaks in May. The increases vary by region, with long-haul routes...
