Lebanon's merchants took a hit in 2021 by the country's unprecedented economic and financial crisis with 35 percent of them shutting down their stores or some branches, according to the Beirut Traders Association.
Western European countries, the United States, Australia and Gulf states have been Lebanese’s top migration destinations in the past. Following the Lebanese civil war in 1975 and up until 1991, Lebanon witnessed a huge wave of emigration.
IMF Memo : Before Lebanon's Current Financial Crisis, Central Bank Faced a $4.7 Billion Hole in Reserves
Lebanon's central bank had a $4.7 billion hole in its reserves by the end of 2015 that was not disclosed to the public, an early warning sign of the financial collapse that has since all but wiped out many people's savings.