Lebanon suffers $5bn in losses as a result of war with Israel, with tourism sector decimated

Lebanon has suffered more than $5bn in economic losses as a result of fighting with Israel, the World Bank said on Thursday.

The World Bank's report estimated for damage between October 8 2023 and October 27 2024. It said that "the conflict has caused $5.1 billion in economic losses", with damage to physical structures amounting to "at least $3.4 billion" on top of that.

The losses are largely concentrated in the commerce, tourism and hospitality sectors. 

"The final cost of damage and losses for Lebanon associated with the conflict is expected to significantly exceed those presented in this assessment," the report said.