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3. 2024: A Year of War and Financial Solidarity

Amid ongoing conflict and persistent economic instability, remittances from Lebanese abroad continue to play a vital role in Lebanon’s financial survival.

Since 2006, when remittance flows hit a low of $5.72 billion, the volume of money sent back to Lebanon has fluctuated in response to both domestic and global conditions. The highest level was recorded in 2016, reaching $7.61 billion, highlighting the strength of economic and emotional ties between the diaspora and their homeland.

Between 2010 and 2012, annual transfers stabilized at between $6.6 billion and $6.9 billion, before surpassing the $7 billion mark between 2013 and 2017. This period of relative consistency reflected the diaspora’s ongoing commitment to supporting Lebanon’s economy.

In 2019, against the backdrop of economic collapse, remittances rose to $7.5 billion, compared to $6.98 billion in 2018. This increase reflected an immediate reaction to worsening conditions on the ground.

However, it is during the most recent crisis years, from 2020 to 2024, that remittances have proven most critical. In 2021, transfers fell to $6.35 billion, the lowest figure in over a decade. Yet, in 2024, despite, or perhaps because of, the Israeli war on Lebanon, Lebanese abroad sent $6.9 billion to their home country. This is the highest amount recorded since the beginning of the current crisis, underscoring a powerful wave of financial solidarity in a time of national distress.