Overview of Human and Material Losses in Lebanon and Israel
The ongoing conflict between Israel and Hezbollah has resulted in significant human and material losses, with a ceasefire agreement anticipated to bring an end to more than a year of fighting. This conflict was ignited by Israel's military actions in the Gaza Strip, leading to devastating consequences for both nations.
Human Losses and Displacement
According to the Lebanese Ministry of Health, as of November 24, 2023, the conflict has claimed the lives of 3,768 individuals in Lebanon, with 15,699 others injured since October 8. The toll includes both civilians and Hezbollah fighters, with the latter's losses reported at approximately 2,450 by the Institute for National Security Studies in Israel. On the Israeli side, 45 civilians and 73 soldiers have been killed due to Hezbollah's attacks, particularly in northern Israel and the Golan Heights.
The conflict has also led to significant displacement, with over 886,000 people displaced within Lebanon and more than 540,000 fleeing to Syria. In Israel, around 60,000 residents have evacuated from northern towns, with many seeking refuge in central cities or abroad.
Economic Impact and Infrastructure Damage
The destruction in Lebanon is staggering, with the World Bank estimating damages to housing at $2.8 billion, affecting over 99,000 housing units. The American University of Beirut reported that Israeli airstrikes have devastated at least 262 buildings in Beirut's southern suburbs. The agricultural sector has suffered losses exceeding $1.1 billion, severely impacting farmers and food production.
In Israel, property damage is estimated at 1 billion shekels (approximately $273 million), primarily in areas near the Lebanese border. The conflict has also led to extensive environmental damage, with 55,000 acres of forests and parks affected by Hezbollah missile strikes.
Future Economic Outlook
The economic repercussions are dire for both countries. Lebanon's GDP is projected to contract by 5.7% in 2024, with the tourism and hospitality sectors facing losses of $1.1 billion. In Israel, the conflict has intensified existing economic challenges, leading to a budget deficit of about 8% of GDP and inflation rates rising to 3.5%. The ongoing tensions are likely to continue impacting public finances and economic stability in both nations.
