Currency and Economy in Sharjah
Sharjah uses the Emirati currency called Dirhams (Dhs). Considered mainly to be a business hub, Sharjah’s main populations includes businessmen. The emirate is the third most populous and also the third largest emirate of UAE. Overlooking the Persian Gulf, marine trade too is carried out in full swing in the city. If we look into the past history of Sharjah, it won’t take an Einstein to make out that it has always been one of the wealthiest emirates forever. The primary reason being the fact that the activities such as trading, farming, hunting, fishing and pearl farming yielded great results for the emirate and the small population made it easier to accumulate wealth. Of course, the population scenario has drastically changed in modern times.
The economy of Sharjah is quite diversified and the amazing cultural city alone contributes to over 7.4% of the total GDP of the United Arab Emirates. The government is currently taking measures to diversify the emirate’s economy further to ensure long-term sustainability and promote growth. The city is the head quarter of famous Air Arabia airlines, the first ever low cost airline of UAE operating between Middle East, Europe and Asia. The city also has a prominent free trade zone of the UAE, popularly known as the SAIF zone (Sharjah Airport International Free zone).The measures of promoting industrialization in a big way has resulted in Sharjah becoming a commercial hub, and thereby giving a boost to its economy.