Report: South Lebanon Loses $1.2 Billion in War

The economic toll on southern Lebanon has soared to approximately $1.2 billion due to the ongoing conflict between Israel and Hezbollah, which began on October 8, according to a recent analysis.

Reported by the Asharq al-Awsat newspaper and sourced from independent non-governmental analyses, the substantial financial impact stems largely from extensive damage to infrastructure, including roads and buildings, as well as to agricultural areas. Additionally, the region has suffered an estimated $300 million in indirect economic losses as a result of numerous businesses shuttering.

Mohammad Chamseddine, a policy and research specialist at Information International, shared with the newspaper specifics of the devastation, noting that 520 residences have been completely razed, while 3,300 others have incurred partial damage.

Chamseddine highlighted the broad economic disruption in southern Lebanon, pointing out the cessation of operations across many businesses and factories. The agricultural sector, particularly olive groves and forests, has faced significant setbacks.

This conflict, which erupted following a series of hostilities between Israel and the Gaza-based Palestinian group Hamas on October 7, has led to almost daily confrontations along the Lebanese-Israeli border, involving Israel and Hezbollah, an ally of Hamas.

Israeli actions have resulted in the deaths of 227 individuals, predominantly Hezbollah combatants, but also including 27 civilians and three journalists. Conversely, the conflict has claimed the lives of 15 individuals on the Israeli side, including both soldiers and civilians, as reported by the Israeli military.

The ongoing hostilities have also led to the displacement of tens of thousands of people from their homes on both sides of the border.