The Covid-19 pandemic affected businesses, forcing lockdowns and various restrictions that have reduced demand on numerous products and services.
Also, the economic and banking crises have led to:
- Severe devaluation of the Lebanese Lira when compared to the dollar (1USD = 20500LBP)
- Consequent inflation, fuel and electricity shortages, and lifting of government subsidies
- Massive increase in poverty; estimated 45% in 2021 (World Bank, 2021)
- Massive increase in unemployment; estimated 1 in 5 workers lost their jobs in 2021 (World Bank, 2021)
The key issues for skills development in Lebanon are linked to:
Access and completion.
Many students who manage to enroll in education or training programs do not complete their studies. This can dramatically reduce the return on educational investments in terms of lifetime earning potential.
Many young people attend school without learning fundamental literacy skills, rendering them disadvantaged in the job market, and more likely to become unemployed.
Involving local companies to ensure that the curriculum and delivery of these programs are in line with labor market demands (World Bank, 2021).
The study focused on the below listed objectives:
- Identify sub-sectors that have a high potential for growth and employment
- Identify local industries with high potential and map the market access opportunities and gaps
- Analyze current skills and employment practices in demand in the current labor market in the specified sectors
- Determine restraints faced by youth employees and adult entrepreneurs in the market
- Identify possible self-employment and employment opportunities for vulnerable members of the community
- Identify and recommend relevant entrepreneurship and vocational trainings which match the market’s demand
- Run a cost-benefit analysis to understand the cost of setting up a new business in specific sub-secto