Lebanon's ICT Sector Growth

Lebanon has a fast-growing Information Technology sector. It's market size was USD 436.2 million in 2016 and it is expected to further grow at a compounded annual interest rate of 9.7% and reach USD 543.5 million by 2019. The impact of this growth on the national GDP is forecasted to be greater than USD 6 million by 2017.

The main factors contributing to this growth were the rising income, declining device prices, the modernization initiatives and the improvements in the telecommunications infrastructure. 

According to the IT Fact Sheet released by IDAL hardware sales reached USD 262.2 million in 2016 and are expected to further grow at a CAGR of 8.3% over the period of 2016 and 2019.  The hardware market is far from saturated as demand for computers and notebooks remains high across the various industries.