An ancient trading centre

The location of Lebanon between the Asian hinterland and the Mediterranean has meant it has been at the crossroads of historic trading routes and this has conferred on it a multi-cultural legacy and cosmopolitan character. A trading centre since Phoenician times, this role has endured through multiple foreign occupations and even serious internal strife. The mid 70s saw the start of a bloody civil war that pitted each of the religions against one another and even within religious groups there was heavy fighting. Since the 2006 war with Israel Lebanon has returned to peace and has started to quickly rebuild its economy.

A regional gateway

A typical example of a small open economy (SOE) Lebanon's economy has fared better than most in the region by pursuing trade-friendly business policies and creating a relatively unregulated business environment which has drawn in much foreign investment. Banking in particular has been a success as many use it as a financial base for their dealings between the Middle East and the West. The tourist industry is only beginning to recover from the crippling blow that the 2006 war with Israel dealt it.