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Lebanon This Week 529

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March 10, 2018
Lebanon This Week 529

Net Wealth Per Capita in MENA Countries (US$)

 

Source: World Bank, Byblos Research


  • Lebanon's net wealth per capita at $65,148, 73rd highest worldwide and ninth highest in MENA region
    The World Bank estimated Lebanon's wealth per capita at $65,148, the 73rd highest among 141 countries worldwide and the ninth highest out of 16 countries in the Middle East & North Africa (MENA) region. The World Bank broadened the measures used to assess a country's economic progress by including wealth as a complementary indicator to gross domestic product (GDP). It measured the national wealth of 141 countries based on four asset categories that are human capital, produced capital & urban land, natural capital, and net foreign assets. 

    Lebanon had a higher level of national wealth per capita than Thailand ($62,599), Ukraine ($56,053) and Albania ($53,107), while it had a lower level of wealth than South Africa ($77,348), Jamaica ($71,766) and the Republic of Congo ($68,779) among economies with a GDP of $10bn or more. Lebanon's wealth per capita was lower than the global level of $168,580 per capita, the wealth level of $158,892 per capita in the MENA region and the UMIC's level of $112,798 per capita, while it was higher than the wealth level of $48,495 per capita among low- and middle-income countries in the MENA region. 
     

  • Occupancy rate at Beirut hotels at 64%, room yields up 15% in 2017
    EY's benchmark survey of the hotel sector in the Middle East indicated that the average occupancy rate at hotels in Beirut was 63.7% in 2017, up from 59.4% in 2016 and compared to an average rate of 62.2% in 14 Arab markets included in the survey. The occupancy rate at Beirut hotels, along with that in Jeddah, was the sixth highest in the region in 2017, while it was the sixth lowest in 2016. Also, the occupancy rate at hotels in Beirut improved by 4.3 percentage points year-on-year, constituting the fourth largest increase among the 14 Arab markets, behind Kuwait (+7.3 percentage points), Cairo (+5.5 percentage points) and Muscat (+4.4 percentage points). In comparison, the average occupancy rate in Arab markets grew by 1.5% in 2017. 

    The average rate per room at Beirut hotels was $151 in 2017, ranking the capital's hotels as the fourth least expensive in the region, relative to Cairo ($85), Abu Dhabi ($120) and Amman ($142). Further, revenues per available room (RevPAR) were $96 in Beirut in 2017, up from $84 in 2016. They were the fifth lowest in the region relative to Cairo ($58), Amman ($70), Riyadh ($92) and Abu Dhabi ($93).
     

  • Lebanese banking sector has low level of potential vulnerability, similar to sectors in the U.S. and Germany
    In its semi-annual risk assessment of 115 banking systems in advanced and emerging economies, Fitch Ratings placed Lebanon's banking sector among 92 banking systems with a "low level of potential vulnerability", the highest category on Fitch's Macro-Prudential Indicator (MPI). The MPI identifies the build-up of potential stress in banking systems due to a specific set of circumstances. It aims to highlight potential systemic stress that could materialize up to three years after an early warning is first detected. 

    Lebanon's MPI score has been unchanged since October 2013, when Fitch upgraded Lebanon's score to '1' from a previous score of '2'. Other countries in this category include Canada, Denmark, Finland, France, Germany, Japan and the United States.

    In parallel, the agency indicated that Lebanon's banking sector was among 15 banking systems that have a Banking System Indicator (BSI) of 'b'. The BSI is a measure of intrinsic banking system quality or strength, derived from Fitch's Viability Ratings for banks. 
     

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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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