LAST TIME I WAS HERE TWO YEARS AGO THIS WAS LIKE A PRETTY BIG STARBUCKS IT WAS PACKED YOU COULDN'T
FIND A TABLE. WHAT'S REALLY CRAZY TO ME RIGHT NOW IS EVEN THOUGH IT'S BEEN SIX TO EIGHT MONTHS
A LOT OF THESE PLACES IT'S NO LONGER A STORE. AH NO NO NO NO IT'S MORE JUST LIKE SOME STUFF
IS REBUILDING AND YEAH. TWO YEARS AGO RIGHT NOW IN LEBANON THE MINIMUM WAGE HERE WAS ABOUT 450
TODAY THAT'S ABOUT 45 EVEN THOUGH A LOT OF PEOPLE PREDICTED THAT THE ECONOMY WOULD
COMPLETELY COLLAPSE WALKING AROUND HERE IS KIND OF SURPRISING BECAUSE SURPRISINGLY PEOPLE CAN
STILL AFFORD TO GO TO BARS ,TO NIGHTCLUBS, DONUT SHOPS, COOKIE SHOPS... WHILE THERE
ARE A LOT OF PEOPLE STRUGGLING THERE ARE ALSO A LOT OF PEOPLE GOING ABOUT THEIR DAY-TO-DAY LIFE
AS NORMAL. I'VE BEEN IN LEBANON FOR TWO MONTHS AND EVEN DURING THIS TRIP
THE VALUE OF THE US DOLLAR TO THE LEBANESE LIRA KEEPS CHANGING A LOT. WHEN I FIRST ARRIVED THIS
100 BILL GAVE ME 1.1 MILLION LIRA. BUT AT THE END OF MY TRIP IT GOT ME 1.4 MILLION LIRA. WHILE THAT
MIGHT BE GOOD FOR A TOURIST IMAGINE LIVING HERE WHERE YOUR SPENDING POWER DRAMATICALLY
GOES DOWN AND IS COMPLETELY UNCERTAIN. OR BEING A BUSINESS OWNER THAT RELIES HEAVILY ON IMPORTING.
IN LEBANON WE ARE A 90% IMPORTING COUNTRY. SO IMAGINE YOU'RE ONE OF THE MANY GLOBAL RETAILERS
IN LEBANON SUCH AS ADIDAS VICTORIA'S SECRET AND H&M WELL MANY OF THEM ARE COMPLETELY CLOSING DOWN.
LEBANON RELIES MOSTLY ON THE SERVICES SECTOR THAT INCLUDES THINGS LIKE TOURISM BANKING INVESTMENTS,
CONSULTING, INFORMATION AND SECURITY SERVICES. IN FACT IT'S 75% OF LEBANON'S ECONOMY THEN 13%
IS THINGS LIKE MACHINERY, JEWELRY, AND BUILDING MATERIALS AND 6 IS AGRICULTURE, THINGS LIKE FRUITS
AND VEGGIES. ALRIGHT SO THIS IS MY FRIEND BILAL I MET HIM IN TRIPOLI AND DID A WHOLE VIDEO WITH HIM
YOU COULD CHECK THAT OUT HERE. THIS IS HOW MUCH HE MAKES PER DAY RIGHT NOW WORKING IN LEBANON IN
THE SERVICE INDUSTRY AND HE'S GONNA BREAK IT DOWN. SO I MAKE A HUNDRED AND TEN THOUSAND A DAY. FORTY
THOUSAND FOR RENT TEN THOU FOR BREAKFAST. SNACKS BETWEEN BREAKFAST AND LUNCH WHICH IS 25, AND THEN
10 FOR DINNER LEFT WITH 20 THOU ONLY TO SUBSCRIBE TO THE GYM, TO PAY FOR MY MASTER'S DEGREE AND
NOT ENOUGH TO GO HANG OUT WITH MY FRIENDS ANYMORE. TWO YEARS AGO I WAS HERE AND IT WAS PACKED,
TODAY IT'S SO DIFFERENT MOST OF THESE STORES ARE CLOSED AND IT'S APRIL RIGHT NOW BUT YOU STILL
HAVE STUFF THAT SAY MERRY CHRISTMAS. INTERNATIONAL STORES SUCH AS ADIDAS, VICTORIA'S SECRET AND H&M
CLOSED PERMANENTLY, OR MOST OF THEIR BRANCHES, BECAUSE THE PRICE OF THEIR PRODUCTS OUTGREW
THE INCOME OF A MIDDLE-CLASS CITIZEN, JUST MAKING THEM COMPLETELY UNAFFORDABLE. SO IMAGINE YOU USED
TO MAKE TWELVE HUNDRED DOLLARS A MONTH AND YOU ONCE IN A WHILE SPLURGED ON A PAIR OF NIKES THAT
COST $120. THAT'S STILL 10 OF YOUR SALARY. BUT NOW YOUR SALARY MIGHT HAVE PLUNGED TO JUST $120
PER MONTH. THERE'S NO WAY YOU COULD THINK ABOUT BUYING THAT PAIR OF SHOES. SO BECAUSE MEDICATION
IS SO EXPENSIVE, BECAUSE IT'S IMPORTED THE GOVERNMENT HAS ACTUALLY STARTED TO SUBSIDIZE
A LOT OF THE MEDICATION BECAUSE IF YOU'RE EARNING WAGES HERE IN LEBANON CHANCES ARE IT'S VERY HARD
TO AFFORD. I MET A LEBANESE WOMAN WHO STUDIED IN NEW YORK AND NOW OWNS A BAKERY SHOP IN BEIRUT.
ALL THE FLOUR SUGAR AND INGREDIENTS SHE USES ARE IMPORTED. EVEN PLASTIC CONTAINERS ARE IMPORTED
MAKING IT EXTREMELY HARD FOR HER TO RUN A BUSINESS AND ANTICIPATE HER COSTS.
EVERYTHING IS IMPORTED. WHEN YOU WANT TO BUY LIKE THE SIMPLE BOXES THEY TELL YOU THAT THE
CARTON IS IMPORTED. THE BUTTER, THE SUGAR YOU HAVE TO PAY THEM, IT'S ON THE DAILY RATE. AND IF IT'S
A PRICE IN THE MORNING IT'S ANOTHER PRICE IN THE AFTERNOON.. WE USED TO BE A SERVICES COUNTRY WITH
THE FINANCIAL SECTOR SO ON ALL OF THAT IS GOING TO CEASE TO EXIST WE'RE GOING TO BE A MANUFACTURING
COUNTRY WE'RE GOING TO BE POTENTIALLY AN OUTSOURCING COUNTRY BECAUSE THE VALUE OF
LABOR TODAY IS 1 10 WHAT IT WAS 18 MONTHS AGO. SO HOLD UP IF LEBANON'S ECONOMIC CRISIS IS SO
BAD HOW COME ITS ECONOMY HASN'T COLLAPSED THE WAY MANY HAVE PREDICTED? ONE REASON IS WHAT'S CALLED
REMITTANCE. THE WORLD BANK ESTIMATES THAT NEARLY SEVEN BILLION DOLLARS WAS SENT INTO LEBANON BY
FAMILY AND RELATIVES ABROAD IN FACT A WHOPPING 36 PERCENT OF THE COUNTRY'S GDP IS MADE UP
OF REMITTANCES IT'S VERY COMMON TO SEE LEBANESE EXPATRIATES WORKING IN OTHER COUNTRIES AND SENDING
THEIR FAMILY MONEY IN LEBANON. A LOT OF PEOPLE HAVE LIKE ALMOST ALL OF MY FRIENDS WERE A GROUP
OF SEVEN GIRLS AND THE ONLY ONE HERE LEFT AND IT'S ACTUALLY SAD BECAUSE MOST OF THEM DIDN'T WANT TO
BE BECAUSE WE HAD OTHER PLANS LIKE WE ALL WANTED TO STAY HERE. A LOT OF DOCTORS HAVE LEFT A LOT OF
SUB-SPECIALTIES AND DON'T HAVE A SUB-SPECIALIST RIGHT NOW IN AUB SO WE HAVE GENERALISTS
BRAIN DRAIN ISN'T ONLY IN THE MEDICAL SECTOR THOUGH LAWYERS ENGINEERS EXPERTS
OF ALL SORTS ARE LEAVING THE COUNTRY TO SEEK A HIGHER SALARY ALL THIS AS POVERTY IS RISING
ABOUT 1.7 MILLION PEOPLE ARE ESTIMATED TO FALL UNDER THE POVERTY LINE NOW IN LEBANON PEOPLE I
TALK TO HERE HAVE VARYING OPINIONS SUMMER FINDS POSITIVES IN THE SITUATION FOR 5 000 YEARS WE
HAVE BEEN EXPORTING PEOPLE AND I DON'T EXPECT THAT STOP BECAUSE BEING ON THE EASTERN MEDITERRANEAN
MAKES YOU YOU'RE AT THE CROSSROADS OF CIVILIZATION SO YOU WILL RARELY HAVE PEACE AND AS LONG AS YOU
HAVE CONFLICT PEOPLE WILL LEAVE BUT LEBANON IS BEAUTIFUL BECAUSE THIS IS WHERE YOU ACTUALLY SEAT
AND NURTURE THE BRAINS THAT END UP LEAVING AND DOING GREAT THINGS BUT OTHERS ARE NOT SO
OPTIMISTIC I'M WORRIED ABOUT JUST ONE THING WHICH IS LIKE IF WE WILL HAVE LET'S SAY CHAOS ON THE
STREET THIS IS SOMETHING THAT WORRIES ME YES WHEN IT WHEN PEOPLE ARE HUNGRY THEY CAN'T DO ANYTHING