How Expensive is Beirut, Lebanon? Black Market & Hyperinflation 🇱🇧

[@dalilovlogs]

لبنان الحبيبة، أرجو أن تنتهي المحنة قريبا و يعم الخير و الرخاء بلادكم و بلادنا. أخوكم من تونس ❤️

[@مرحبابك-ض1ن]

آمين الله يعينهم ويصلح بلادهم

[@hussainwarraich8139]

فی امان الله 🤲

[@nabilaboumoussa5696]

أنت إنسان أكثر من رائع وأنا أشكرك من كل قلبي على هذا التعليق الجميل. كل هذا يعكس روحك الطيبة وروح أحبائنا الرائعين في تونس. تونس الغالية أنا أيضاً من زمان أعرف بأن تونس بلد الرقيّ والحضارة. بارك الله بأمثالك وبارك أرض تونس. آمين

[@marcobardus]

I lived in Lebanon (Beirut) for 6 years. Before the crisis started we used to live a decent life... Everything went down in late 2019, and my family and I decided to leave because it was unsustainable. And I was earning a good salary as a university professor.

[@bonniesteinke6624]

That is very sad. 😢 I believe that corrupt politicians, who didn’t have the best interest of the citizens in mind, had a large part in creating the crisis. Lebanese people do not deserve this.

[@marcobardus]

@@bonniesteinke6624 Unfortunately, the collapse of the economy and of the society is entirely man-made; yes it's the politicians' fault

[@Abraham_Tsfaye]

A country of thieves, crooks and murderers. Now it is destroyed and bankrupt. Justice!

[@bonniesteinke6624]

@@Abraham_Tsfaye ordinary, hardworking people never deserve to suffer because of the evil of their leaders. The unscrupulous politicians never seem to be brought to justice. I pray for the people of Lebanon 🇱🇧

[@Designer_TopG]

@@bonniesteinke6624 Yes it is. The corrupt politicians like you said.

[@massbygus]

Wow... How sad it always for the hard working people of the country. Politicians should be eliminated from the face of earth... Disgusting.

[@anonymous_0108]

💯😪

[@nwywnwyw9113]

So you know send me some help

[@nwywnwyw9113]

I work 20 h per day for 50 $ monthly

[@anonymous_0108]

Lol! Try to find a work outside of Lebanon

[@nwywnwyw9113]

@@anonymous_0108 i dont have money for that... thanks anyway

[@bonniesteinke6624]

Thanks for this up to date, informative vlog. My husband and I are considering visiting Lebanon and the videos I have been watching are from a year ago. Things have changed a lot since the beginning of 2021, and the situation in Lebanon seems to be ever changing .

[@JasonBillamTravel]

They’re ever changing for sure. Glad this video was useful for an up to date report.

[@emptylittlelose1006]

Since 2019 when government tried to take tax from whatsapp so people protested coz so expensive, since that life there changed

[@moumensamad1588]

You are welcome, just make sure to exchange ur money on the black market as mentioned and never use your bank card for payments

[@bonniesteinke6624]

@@moumensamad1588 thank you. I must admit I am a little apprehensive. I will also seek advice from some Lebanese people here in my community. They go back about 2 times a year with suitcases filled with medicine and other things for their relatives.

[@Designer_TopG]

@@JasonBillamTravel How do you make money on you tube , the ads ? Does it get any money monthly ?

[@lokmanhakim5760]

Hello Jason! Welcome to our beautiful country. You said and showed something key on 14:28: "you can't actually survive on the official rate". To add on this, people working in the public sector (hundreds of thousands) still earn their salaries based on the 1500LL official rate (like earning 1,500,000LL which was $1000 3 years ago but now is $50). So for the latter, it's as if they literally paid $33 for their starbucks frappuccino drink! Hope this makes sense as an example of the hyperinflation that many Lebanese are suffering from. Cheers from Manchester, UK :)

[@JasonBillamTravel]

Very sad indeed.

[@mhmaditani6456]

Lwade3 sa3eb ktir ktir ktir sayer😔💔

[@shukran3907]

My grandparents just installed solar and now they don't need any goverment or generator power anymore. Alot of lebanese are doing this now.

[@ronaldmartin2304]

How informative! I lived in Buenos Aires many years and there is a similar situation there with currency. The black market rate for one dollar is about double than the official one.

[@JasonBillamTravel]

I’ve heard about that - Turkey and other countries have also been suffering.

[@hussainwarraich8139]

It's all dollars monopoly! Didn't you how Russia gain against dollar in just 2 months! 😊

[@hassansabra6420]

@@hussainwarraich8139 well said, but how long, can ruble can stand against $$$, knowing that many countries turning use there own currency to exchange products??

[@lagneuk702]

@@JasonBillamTravel I was just in Turkey a month ago, in September, great value for USD...but the locals definitely felt the pinch, and they were very grateful for tipping... a great country to visit, and maybe go back again...

[@rtora4tora185]

Jason thank you for a detailed break down of the currency of the lira and all smaller aspects of things I'm truly interested in visiting Lebanon in October your videos just makes it easier to plan

[@jackjack1104]

Well, to explain everything in a smooth way!! Before 17 Oct 2019, the official rate was 1$=1500lbp, there was no blackmarket rate. Everyone was living as a middle class or high class (lebanon was an upper intermediate income country compared to the world), only 10-15% of the country was in poverty. After the crisis and the hyperinflation (caused by some of the politicians economical strategies that were created on government debt in USD using bank depositors money in return of high interest “all this was to steal their money”… “long story”), the devaluation of the lebanese lira created this gap you’re talking about, and those who had foreign currencies in banks cannot anymore use them(in cash) which created a stuck bank dollar… the minimum wage was at 650,000lbp=430$ at official rate which was the lowest salary in lebanon, today that person is still having the same salary but at the unofficial rate which makes it a 95% less. As the imports form nearly 80% of the needs, foreign currencies are needed in order to pay the price, but the banks aren’t giving the dollars to the depositors and the importing companies, the demand has risen on the black market dollar which made this devaluation due to the high demand and low availability in cash. And as companies are providing services based on foreign imports, they had to follow the blackmarket rate to pursue and provide their services. In a simpler way, you buy with lbp at blackmarket rate the product, the company uses this rate to exchange the lbp to usd, then this usd is used to buy imported products, then these imports are sold again at the blackmarket rate with lbp in order to continue providing the service and so on … thats the loop which is now based on blackmarket rate and not on official one. As long as there is no foreign currencies backing up the supply and demand, the inflation will continue on the lbp in the blackmarket. Most lebanese earn their money on what used to be the old official rate, before 2019 there was no problem. But today the inflation made it hard on most. Thats why tourists or lebanese expats sees it as a cheap country, because the dollar has more value now than before because it is more in need. About the price in usd you see on the bill (credits card one, extremely high one), and as said previously, the lbp has risen a lot and the companies are obliged to provide the usd on the official rate and not on the blackmarket rate due to the tax system but this price has no meaning, just someone must be aware not use his card unless the credit card is in lebanese lira(lbp) and not in usd and specially from foreign banks. It is a very complicated situation which might take 20x more than this paragraph but i tried my best to explain it. Thank you!

[@LoverOFhopeANDcompassion]

Im thinking of going there this oct/Nov. Is it safe to carry a thousand US$ or two? Any news of high robbery rates? How do you think this currency delimma will be resolved??

[@bilzrb]

@@LoverOFhopeANDcompassion that much money ain't safe it isn't about robbery rates instead its like an elon musk in Lebanon. And the currency dilemma will likely be resolved however at the minimum a decade or so as of a few weeks ago, there was an election for a new parliament. Most of the parliament are still the same corrupt people but there are a few new(not corrupt) ones

[@salmanmasri]

@@LoverOFhopeANDcompassion yes you can it is safe but now the ministry of tourism announced pricing in USD rather than Lebanese pound from yesterday so thing will be expensive

[@bi3azdb56]

@@LoverOFhopeANDcompassion it's completely safe. No one will approach you to rob you

[@alimoukadem7700]

@@salmanmasri no , its just to keep them safe against fluctuations, everything will remain the same

[@theaverageguytraveller7253]

I just got back from Lebanon a couple weeks ago, insane trip but loved it. Got all my money on the black market. First day I got 1,600 lira for 1USD, my final day it was about 32,000 for 1USD. Loved the culture and food, amongst the best I’ve experienced

[@JasonBillamTravel]

Pretty crazy huh. Lovely country though (with friendly people considering the situation).

[@shukran3907]

I hope that you'll come back one day! There is just something special about it. Even tho I didn't grow up there, my heart will always be in Lebanon. 💛

[@MauriceYou460]

ah wow got mugged off then on your first day🤣

[@raymollyraymolly722]

@@MauriceYou460 Every time I go to Paris and london I get mugged.

[@demonsparrow9594]

@@MauriceYou460 unless if on their first day the official rate was 1,600 then it wouldn't be considered mugged. the exchange rate keeps fluctuating it can increase/decrease 10k+ in 30 minutes.

[@rubenvaldes7392]

Thank you for your insight. I'll be there in July. It's always been a bucket list country for me, however I feel greatly for the local community.

[@JasonBillamTravel]

Good luck. Agreed!

[@ea6398]

I was in Lebanon 6 months before the explosion 💥 and I had wonderful time ! This is hard to imagine what the government done to the country and the people! No matter if they Muslim or Christian they destroyed the country

[@plasmapanasonic4741]

It was the Jews

[@28Justchecking]

@Plasma Panasonic jews has nothing to do in whats happening let's chill

[@BoydXplorer]

Tnx4sharing How Expensive is Beirut, Lebanon from Black Market & Hyperinflation. You've explained it well. Full watched bro.

[@boldytiger]

As a Lebanese living in this dump, most people live from transfers from relatives. And yes we only get government electricity about 2 hours a day. Water goes out everyday and gas is insane.

[@robinbedrosian]

As a Canadian Armenian Lebanese I thank you for this ❤️

[@cz.travelmaster]

This video was very helpful, thank you :) Visiting Lebanon is somewhat my dream, after visiting a few other countries in the Middle East. Anyway due to the current crisis I was a bit hesitant as I was not really sure how it would work out financially, but now I see that's really not something to worry about.

[@Xerex_m]

I visited Lebanon 10 years ago, unfortunately didn't have good experience. Taxies, local restaurants, bars and basically every one charge tourists much much more than regular. Always felt dealing constantly with dishonest and corrupt people.

[@jcam783]

Would love to visit Lebanon . Great video and tips .

[@FUMALZAP-wv4ib]

By visiting Lebanon, it has become more beautiful. Thank you

[@elisabti8370]

Very beautiful place to See. Amazing video information and special photography. Thank you for Sharing.

[@brownguy9396]

Huge thanks for the detailed informations . First 4 mints of the video makes you special. Non other bloggers explain this things. Thank you so much. Keep it up. It was very helpful

[@joeblackwolf17]

Wow I am going there in a month and was looking for someone to film how things are now … been 3 years since last time I went back. Thank you for sharing this is great for all travellers thinking of going to Lebanon

[@hassansabra6420]

That's Lebanon, in the middle of crisis, hyperinflation, he can stand up alone, and every single country in the world love Lebanon #live_summer#Lebanon-2022

[@hannahhannah1938]

Thank you Jason love Lebanon 🇱🇧 grande cuisine amazing culture lovely people hope everything will be better in the future for Lebanon Big thank you from Algeria 🌹🌹

[@JasonBillamTravel]

Shukran

[@nabilaboumoussa5696]

Algerian people are also amazing and kind. I hope one day I can visit the lovely country of Algeria. Love you Algerians. ❤

[@draak777]

Thank you so much for the excellent videos about Lebanon. And also about the currencies and the black-market extremely informative. I’ve booked my trip to Beirut on 1 September we gonna stay there for six nights. And thanks again for the information

[@JasonBillamTravel]

Glad they’ve been helpful. Good luck!

[@mitchM730]

Lovely video about my country. However, I would like to correct you on how electricity works in Lebanon. EDL (Electricity du Liban) is actually owned by the gov; same as ALFA and Touch for telecommunication. You might think they re private companies, but in reality, they re not. More so, EDL isn't able to provide 24/7 electricity since forever, hence why we resort to private generators which make up for the lack.

[@JasonBillamTravel]

Thanks for clearing that up!

[@demonsparrow9594]

@@JasonBillamTravel the private generators are also owned by politicians, and also me now watching this video while u say alfa and touch prices are still cheap, while few days ago news saying the prices will become based on black market rate..

[@jasonbowman7190]

Any publicly traded companies to invest in that ate still trading at a discount? Also are things getting better, I hear it will take some time still. What are the biggest publicly trading companies 🤔

[@divizionx]

Stay strong Lebanon ❤️

[@Sara-yq8pn]

hey, how do we access the black market in lebanon? where do you find them there?

[@TheSwede70]

Thank you so much for this video. One of few youtubers that has valuable information for travellers.

[@AbuSous2000PR]

excellent report.. i really appreciate it this is exactly what i wanted we unblemished news from the ground cheers from Palestine

[@ameljb7343]

From Tunisia thank you for this video i realy need it for my knowledge

[@BilalHoss]

hey man you choose the worse looking street to begin your video on Beirut!!! Lebanon really a nice location to visit, especially when you exchange in the black market, there are so so so many amazing location to check out. do a video showing ppl site locations and how cheap they are comparing it with other countries have a good one mate

[@gabriellefata4800]

21:40 hindbeh it’s sautéed dandelion with carmalized onion, lemon, and sometimes garlic

[@TOPTRAVELVLOG]

Wonderful video. Nice creation. Great work friend.

[@JasonBillamTravel]

Thanks!

[@HusseinKefel]

Hi Jason, thank you for the tour guide it was interesting and pleasant to watch

[@JasonBillamTravel]

Glad it was helpful.

[@phoenicianbird109]

... Thank you for this great video... Please make allot of videos about lebanon

[@metiselaonoja9676]

Greetings from Lebanon,am currently in Lebanon now, everything u said about the currency is absolutely correct, things are really expensive now, people are really breaking homes to steal because lots of people can afford anything to eat right now,we just hope this Election will help get a better and good Government,I guess where u are heading to now will Be either Cyprus or Itally because those countries are close to Lebanon,I love ur video , very nice and well published

[@Bobsacamano246]

Nice video mate, I've been 3 times in the past (Australian with a lebanese background) very sad to see what's happening but this video Is a must watch if you plan on going there

[@JasonBillamTravel]

Thanks. Very sad indeed.

[@nabilaboumoussa5696]

@JasonBillam Travel I Love the way you depicted Lebanon my country. I had an American friend back in 2017 and I tried as much as I could to show him the best of Lebanon. Things were different back then but I still love to show the best of the country for everyone. I hope next time you come to Lebanon to meet you in person and show you some interresting places other than the big cities you visited. Love and respect for you my dear Jason. Hope you make a come back once again in the near future. Be safe man.

[@enavigatorE]

Sri Lanka is getting there, but people here don’t understand the severity of the problem!

[@jamiet2602]

Interesting video, smashing it as always keep it up buddy!

[@kaifahdsm827]

Thanks for the vlog and tips. I am wandering how to survive the first day of arrival to get around with the official rate before getting hold of the unofficial rate

[@robertyoung7062]

Very informative.

[@samalik8635]

Thx for this much informative vlog regarding finances involve for touring such a country like Beirut. Nice work bro Cheers

[@silcosilva]

just as you spoke about the expensive fuel cost, a blue Lamborghini casually sits in the background at around 9:53...

[@campari4467]

Lebanon. The elites. The poor.

[@living_peace]

I think they get money from the abroad As far as I know many of Lebanese living in abroad more than their own country

[@JasonBillamTravel]

Pretty wild

[@dlw3747]

Billam,I really like vlogs that reflects the local social and economic landscape. Thank you.

[@JasonBillamTravel]

Glad they're helpful.

[@kikomda]

9:52 like how you talk about expensive feul prices while an aventador is chilling behind you

[@georgechahine6997]

Electricity is not controlled by private companies. The state provides about 1 to 2 hours per day after the system completely crumbled. The rest is provided by private owners of generators. Each neighborhood has one or two private owners who supply power at extortionist prices. Corruption runs very deep, as the owners of the generators are in bed with the political class so there's no incentive to change the system. Thank you for your videos Jason. Another great one!

[@JasonBillamTravel]

Appreciate that. I was going on what I'd been told but obviously it's a bit more complicated.

[@elinall5345]

good and realistic video, so this is how the people there get by.

[@mok8591]

Thank goodness for your information. How did you get around?

[@aminaandtully6196]

THANKS FOR THIS INFORMATION. I WAS PLANNING TO USE ONLY DOLLARS BEFORE. NOW I KNOW BETTER I WILL CHANGE MY DOLLAR TO THE LOCAL.

[@lagneuk702]

The rate today October 18 is 40K Lira...I'm thinking about a December visit...in your opinion has the inflation caused too much crime and safety issues? Thank you...

[@robertyoung7062]

So very well done. Gives me excellent practical knowledge.

[@marcoschavez1028]

Thank you for the information. I'm glad to know USD goes a long way

[@ArjenDijksman]

I arrived in Lebanon the day after you left, so your videos from Beirut, Byblos, Tripoli and Baalbeck were very welcome. On the second day, I was sent to the same Alfa store as you went to. They advertised their prices in dollars, which were insane ($10 for 0.5 Gb, $23 for 5Gb...), but paying it with Lebanese pounds, and reconverting it at the black market rate, it cost me about $1 for 5Gb. While it took the lady who helped me about 30 min to do all the administration and activate the line... Crazy!

[@alejandrojosegonzalez9214]

Thank you for all the information ℹ️ excellent job

[@charles6705]

Great video! I lived in Venezuela 2000 to 2005 it was exactly the same thing with the economy.

[@thecointrader]

Hello Jason, do any of the local businesses take silver or gold bullion/coins for payment?

[@campari4467]

If it's 40 minutes flight from Beirut that would have to be lanarca, Cyprus 🇨🇾

[@veronicadivi3449]

Yes I think it's Cyprus too

[@anthonyg9938]

Exactly !

[@levinawalsh2015]

Very important information. Cheers Jason.☘✌.

[@Camilo-zy8rt]

I am colombian, but muy grandfather was lebanese (my lastname is Adaime). It Is really sad what Is happening with Lebanon :( . Lebanon is my second homeland for me

[@d43784]

Where in Colombia are you from?

[@eliasbeik7852]

Very informative Videos. Interesting 🧐

[@nikosk3003]

Such an informative video!! Thanks Jason. I Have a question. How much does a taxi cost from airport to the city center of Beirut? Since you are arriving for the first time you wont have any LL and have to pay in dollars. thanks

[@Nate-ez1xh]

How can I find a black market money exchange when I land in Lebanon??

[@N3z4M]

The music at 20:00 is amazing!!

[@HADJERLMPDZ]

Very informative video with good information. 👍🏼👍🏼👍🏼

[@JasonBillamTravel]

That’s good to know.

[@alcyrona28]

Can you explain what is the difference of black market rate to official rate? Who charges official rate and who charges black market rate? Are most establishments using black market rate as mode of payment?

[@hots4jc]

Hey Jason, what are they doing with their silver or gold?

[@VERONAcd]

Love you so much ! Thank you

[@chilemexico]

Hi there, one question where is located the black market and how can i got there

[@4kkenyantraveller636]

Hey Jason i see your doing well in Beruit I love your work, showing us different countries...

[@JasonBillamTravel]

Happy to hear it.

[@dinae1447]

Camera quality is A1

[@yinsofia5410]

Muy útil tu video. Gracias . Suceso para ti !!

[@supershah8111]

Hey Jason, Excellent information, where can find black market to change my British pound? Please help me ❤️

[@johnbuckley8099]

Brilliant insights.

[@JasonBillamTravel]

Cheers John.

[@sarahlevant_]

I hope you tip!!! Very important in Lebanon!!!

[@OliverStapley]

Looking to visit Lebanon in October, looks amazing can’t wait! Thanks for the tips around taking USD, have you got an idea of a daily spending budget? I’ll be staying in hostels that look around £10 a night. Plan to be in Lebanon for 8 nights. Thanks for any help I get in advance!

[@southerncali5607]

Any tips on how to get from the airport to the City in you have no Liras on you yet? Looks like a taxi is the only option? Thanks.

[@lizacarlson605]

one of the nicest people and they dont deserve this :(

[@gabriellefata4800]

Are rideshare apps working outside of Beirut ? Are there enough drivers and taxi ? How is the gas ?

[@frederickbouari2625]

how did you feel the safety and food is there? In terms of getting robbed or food poisoned?

[@hassansabra6420]

Man, remove all those negative thoughts from your mind, Lebanon is very safe, and food is super safe, come on, and visit Lebanon

[@frederickbouari2625]

@@hassansabra6420 Ha amazing, yallah coming down with my family Sep/October. I have a 16 month old so want to be cautious.

[@gjothomas84]

Where can we find black market guys

[@MariaAparecida-iz9gg]

Muito lindo essas lojas do shopping

[@DjHassanA]

Your camera is very steady. What equipment and camera do you use? 😊😊

[@man7j]

As always great vids Jason. Have you put Iran on your list? I see they’ve opened up travel for tourists.

[@5lanediver]

how are bolts so cheap with the price of gas?

[@henrikschulze185]

Hi Jason, I was planning on going to Beirut in July, I have been there before and wanted to ask you if there is still some night life going on and also how safe it is at the moment? Cheers

[@UnholyPaladin]

Night Life is as strong as ever ( make sure to book in advance because weekends are fully booked ). And yes safe as it can be, no hustle

[@1p4142136]

How do you get around? Do you speak the language? Or do you use some sort of translator?

[@peanut_2butter.]

I have a question black market for exchange money will they give real dollars? Not fake money? is it a safe way to do this procedure

[@hassansabra6420]

I am from Beirut, and as a Lebanese, many thing has changed after the revolution "if we can say", specially the pricing of all thd products in the market, like Starbucks, the u bought it for approx 2$, it was 8$ or more, regarding the cinema, those tickets was for 10$ for stander and 15$ for IMAX, now it's for 3$ and 4$, they stole us, for many years, now every thing came back to normal, but the difference is, the purchase power has decreased, due to DOE, and many more...

[@anahittoutikian3583]

Where is the black market, I’m going to Beirut on 8/30/22. Your video is very helpful

[@andrewjones4773]

What backpacker hostel did you stay ?

[@vkitanoski]

Very informative, thank you. Did you have to book a hotel upfront and pay (for immigration and visa purposes), or you could pay at the reception with 'cheap ' liras?

[@hassansabra6420]

Hi, Everything is priced in USD here except supermarkets and gas station till now, or you can pay at black market rate No need to thank

[@ryoma5623]

so you need to bring USD and exchange where?

[@MrShiver85]

Thank you so much for your videos. Really useful. I will be in Lebanon on July for a week. How many dollars/euros do you think I will need for transport, food and other stuff like that? Thanks

[@hassansabra6420]

Around 2000-2500$

[@MrShiver85]

@@hassansabra6420 so much??

[@hassansabra6420]

@@MrShiver85 what do you meam by that?? You mean it's to much for one week?? Or you mean exact amount??

[@MrShiver85]

@@hassansabra6420 It seems so much to me for a week. I thought it was cheaper

[@hassansabra6420]

@@MrShiver85 oops, It's 1000-1500$, my bad 😅

[@Jpkjr52]

Thanks Jason John In Chicago

[@missloulou-5312]

Welcome to Lebanon 🇱🇧 handsome

[@mohamedabdelkader8665]

Awesome.

[@wanderingwithnoor]

Hey Jason video is informative 👍 Lebanon's Thanks a lot for showing us bro

[@JasonBillamTravel]

Thanks for commenting!

[@robm.8772]

Where exactly is that alfa store?

[@hassansabra6420]

Go to Google maps, and you will find the location

[@montresian]

The same situation is happening in Cuba😮 you need to change in the black market to survive the time you go to spend in the country !