Lebanese activists have always urged Lebanese people to turn to local products in order to help local businesses. However, they were often ignored due to the strong purchasing power of the Lebanese Lira before the crisis.
After the crisis kicked in and the Lebanese Lira lost most of its value, Lebanese products became a refuge for the impoverished. Due to the inability of most Lebanese people to afford expensive imported products, local businesses have witnessed a boom in sales.
The Covid Pandemic also helped encourage local production since it crippled worldwide trade. The biggest winners from these outcomes were food supply businesses.
Food supply production makes up 25% of Lebanese GDP and is ranked 1st in terms of the number of working institutions and job opportunities.
Around 1500 institutions produce a wide variety of products including flour, bread, dairy products, poultry, meat, pickles, olives, sweets, chips, spices, juices, and non-alcoholic drinks.
Lebanese businesses have proven that they can compete with their foreign counterparts, despite having to import their basic supplies from outside. They provide more than 70% of consumable products in Lebanese markets and have the potential to expand to other sectors.