WORLD TRADE CENTER BEIRUT
With its high literacy rate and traditional mercantile culture, Lebanon has traditionally been an important commercial hub for the Middle East. After the fall of the Ottoman Empire, the League of Nations put Lebanon under a French mandate until it separated out the region of Lebanon in 1920, and granted this area independence in 1943. Lebanon's location at the crossroads of the Mediterranean Basin and the Arabian hinterland has dictated its rich history, and shaped a cultural identity of religious and ethnic diversity. Lebanon is an emerging economy, with a private sector that contributes to 75% of aggregate demand and a large banking sector that supports this demand.
Full name: The Lebanese Republic
Lebanon has a free-market economy and a strong laissez-faire commercial tradition. The government does not restrict foreign investment. The Lebanese economy is service-oriented; main growth sectors include banking and tourism.
GDP: $51.82 billion (2015 est.)
GDP by Sector: Agriculture: 5.7%, industry: 25%, services: 69.4% (2016 est.)
Exports: $3.108 billion (2016 est.)
Main Exports: Jewellery, base metals, chemicals, miscellaneous consumer goods, fruit and vegetables, tobacco, construction minerals, electric power machinery and switchgear, textile fibres, paper.
Imports: $17.98 billion (2016 est.)
Main Imports: Petroleum products, cars, medicinal products, clothing, meat and live animals, consumer goods, paper, textile fabrics, tobacco, electrical machinery and equipment, chemicals.
World Trade Centers Holdings Cyprus holds the license for Beirut, which is the capital and largest city of Lebanon and is home to the first law school in the world, dating back to the Phoenician Era. Beirut is a tourist attraction to all visitors from around the world. Located on a peninsula at the midpoint of Lebanon's Mediterranean coast, it serves as the country's largest and main seaport. The city is the focal point of the region's cultural life, renowned for its press, theatres, cultural activities and nightlife. Beirut underwent major reconstruction and the redesigned historic city centre, marina, pubs and nightlife districts have once again made it a tourist attraction.