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

COMPETITIVE ADVANTAGES:

• Highly skilled and multi-lingual labor force: Lebanon ranks 18^th worldwide for the Quality of its higher Educational System and 4^th 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 2016, the 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.

MARKET 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.