Lebanon’s fragile hopes of revitalizing its struggling economy through tourism have been shattered following the recent Israeli airstrikes and the looming threat of full-scale war sparked a wave of travel bans and sent tourists fleeing.

The summer season, which was expected to generate significant revenue from visitors, primarily from Lebanon’s extensive diaspora, had been forecasted to exceed last year’s $5 billion to $7 billion in tourism income.

Those projections evaporated overnight following the airstrike late last month on Beirut's southern suburb, Minister of Economy and Trade, Amin Salam, told Bloomberg.

The airstrike targeted Beirut’s southern suburbs, killing a senior Hezbollah commander, Fuad Shukr.

Salam revealed that the conflict has already cost Lebanon more than $10 billion, factoring in lost revenue and extensive damage to infrastructure.

“We had dreamed that the growth in spending by tourists and returning Lebanese would continue,” Salam lamented. “But everyone who had booked canceled, and everyone who was here left. That sector froze. Hotels and stores are empty.”

Tourist spending had been a rare bright spot for Lebanon’s beleaguered Mediterranean economy, which has been in freefall for the past five years due to a severe banking and debt crisis.

“This money is what kept the country alive,” Salam emphasized, underscoring the critical role tourism played in sustaining Lebanon’s economy.