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Technology

Lebanon has witnessed a surge of high tech companies. These industries, characterized by high growth dynamics, are helping to create ample opportunities for pioneering and innovative companies in Lebanon. 

 

KEY FACTS AND FIGURES: 


  • Lebanon ranks 1st in the MENA region for Technological Readiness.
  • Lebanon ranks 2nd in the MENA for Innovation.

   

COMPETITIVE ADVANTAGES:

  

  • Highly skilled and multi-lingual labor force: Lebanon ranks 18th worldwide for the Quality of its higher Educational System and 4th for the quality its Math and Sciences Education.
  • Competitive labor cost: the average wage of software engineers is 27% less than in the GCC and 55% less than in selected developed economies.
  • Booming regional market for Tech services: Lebanon’s strategic position allows it to serve expanding markets. In 2016, high technology exports USD 32 million.
  • Enabling Infrastructure: Companies operating out of Lebanon can benefit from an adequate infrastructure and an enabling business environment:
    • Fixed broadband penetration rate ≈ 25.6% in 2016the highest amongst the Levant countries and other MENA economies.
    • Mobile broadband penetration rate ≈ 53.5% in 2016, up from 43% in 2013.
  • A thriving supporting system: with the proliferation of incubators and business development centers and the increase of financial support by the government and international institutions.

 

INVESTMENT OPPORTUNITIES:


  • ICT Manufacturing: Opportunities are now emerging in the manufacturing and design of hardware components:
  • Hardware sales are expected to grow at a CAGR of 8.3% over the 2016-2019 period.
  • Medical Technologies: Lebanon’s well developed medical and health infrastructure underlies the country’s potential to offer services ranging from research to product and medical applications development:
    • In 2017, health expenditures accounted for 7% of Lebanon’s GDP.
    • The medical devices market is forecasted to reach USD 339.4 million by 2019.
    • It has the highest ratio of doctors to population (35 per 10,000 people) in the region
  • R&D potential: Lebanon enjoys a substantial scientific infrastructure and has the capacity to innovate and develop new products:
    • Scientific and technical journal articles increased at a rate of 77% from 2010 to 2016.
    • 12 higher education institutions that include science and/or technology faculties, and 6 research centers.
TECHNOLOGY FACT BOOK 2018
Technology Investment Incentives
INVESTMENT OPPORTUNITIES IN THE TECHNOLOGY SECTOR 2016
Get in Touch
Lazarieh Tower, 4th Floor, Emir Bechir Street, Riad El-Solh Beirut, Lebanon, P.O.Box 113-7251
Phone
+961 1 983306
Fax
+961 1 983302