page_title: Beirut
section_title: Economy
hierarchical_section_title: Beirut / Economy
caption_attribution_description: English: a night view of the waterfront towers in Zaitunay Bay, Downtown Beirut
context_page_description: Beirut is the capital and largest city of Lebanon. As of 2007 it had an estimated population of slightly more than 1 million to 2.2 million as part of Greater Beirut, which makes it the third-largest city in the Levant region and the fifteenth-largest in the Arab world. On a peninsula at the midpoint of Lebanon's Mediterranean coast, Beirut is an important regional seaport.
  It is one of the oldest cities in the world, having been inhabited for more than 5,000 years. The first historical mention of Beirut is found in the Amarna letters from the New Kingdom of Egypt, which date to the 15th century BC.
  Beirut is Lebanon's seat of government and plays a central role in the Lebanese economy, with most banks and corporations based in its Central District, Badaro, Rue Verdun, Hamra, Ryad el Soleh street, and Achrafieh. Following the destructive Lebanese Civil War, Beirut's cultural landscape underwent major reconstruction. Identified and graded for accountancy, advertising, banking, finance and law, Beirut is ranked as a Beta World City by the Globalization and World Cities Research Network.
context_section_description: Beirut's economy is service-oriented with the main growth sectors being banking and tourism.
  In an area dominated by authoritarian or militarist regimes, the Lebanese capital was generally regarded as a haven of libertarianism, though a precarious one. With its seaport and airport—coupled with Lebanon's free economic and foreign exchange system, solid gold-backed currency, banking-secrecy law, and favourable interest rates—Beirut became an established banking centre for Arab wealth, much of which was invested in construction, commercial enterprise, and industry (mostly the manufacture of textiles and shoes, food processing, and printing). The economy of Beirut is diverse, including publishing, banking, trade and various industries. During that period, Beirut was the region's financial services center. At the onset of the oil boom starting in the 1960s, Lebanon-based banks were the main recipients of the region's petrodollars.
  Beirut is the focal point of the Economy of Lebanon. The capital hosts the headquarters of Banque du Liban, Lebanon's central bank, the Beirut Stock Exchange, the head office of Lebanon's flag-carrier Middle East Airlines, the United Nations Economic and Social Commission for Western Asia, the Union of Arab Banks, and the Union of Arab Stock Exchanges.
caption: Zaitunay Bay
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