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Tourism sector continues to attract investment: IDAL

BEIRUT: Lebanon’s tourism sector is still attracting investments in spite of current conditions, Nabil Itani, head of the Investment Development Authority of Lebanon said Wednesday, adding that income from tourism will likely increase 4.5 percent. “The completion of many mega projects is on the horizon and this would reinforce Lebanon’s position as a tourist destination,” he said during a visit to Summerland. IDAL granted Summerland a package deal contract that includes full tax exemption on income and distribution of dividend for 10 years. The package includes exemptions from real estate registrations and a reduction of work permit fees for Summerland Hotel staff. The $155 million project is being built south of Beirut and will consist of a five-star hotel, a club, cabins, a gym and a yacht marina.

 
A version of this article appeared in the print edition of The Daily Star on September 06, 2012, on page 5.

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