Sharjah's Gross Domestic Product (GDP) has risen to Dh71 billion by the end of 2008 from Dh41bn in 2005, with a recorded annual growth rate of 11 per cent over the past five years, according to Marwan Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq).

Participating in the UAE Businessmen's Forum organised by Sharjah Chamber of Commerce and Industry, Sarkal said Sharjah is one of the most important destinations for investors in the tourism sector. "We believe that interest in tourism-related investment is growing once again," he said.

The latest statistical information indicates that the number of people entering Sharjah through the international airport increased by eight per cent in the first nine months of 2009 to reach 4.24 million, as compared to 3.93 million for the same period last year.

Sharjah's tourism sector has maintained a steady annual growth rate of 11 per cent over the last five years, with tourist numbers doubling during the same period. The number of tourists to the emirate is expected to increase to 3.5 million by 2012. Sarkal said there are many excellent investment opportunities in the emirate, particularly in the water entertainment field in Khorfakkan.

He said Sharjah is making strong strides towards establishing its status economically, culturally and tourism-wise by attracting big international economic, educational and tourism events.

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