Sharm el-Sheikh's major industry is foreign and domestic tourism, owing to its dramatic landscape, year-round dry temperate climate and long stretches of natural beaches. Its waters are clear and calm for most of the year. Sharm el Sheikh has become a popular favorite for tourists from around the world with various water sports; particularly recreational scuba diving and snorkeling which some consider to be among the best in the world. Coral reefs, under water and marine life, unmatched anywhere in the world, offer a spectacular and dazzling time for divers. There is wide room for scientific tourism with diversity in marine life species; 250 different coral reefs and 1000 species of fish.
These natural resources, together with its proximity to European tourism markets, have stimulated the rapid growth of tourism that the region is currently experiencing.
Tourists to Sharm el Sheikh are estimated at over 7 million / year. There are over 100 Beach resorts many of which are reputable international hotels and resorts who have been attracted to invest in this beautiful and lucrative city, with categories ranging from three to five stars, to meet all budgets.
Sharm is also home to a state of the art congress center, where many international political meetings have been held. Peace conferences, ministerial meetings, World Bank meetings, Arab league conferences to mention a few.
The night life of Sharm El-Sheikh is very active and attractive. In 2005, Little Buddha, a sushi bar, nightclub, and bar, took the title of having the longest continuously open bars in the Middle East. Other popular bars include: Camel Bar, The Tavern, Pirate's Bar, Movenpick Beach, and The Mexican. If dancing is appealing to you, then Sharm has a lot to offer. Clubs such as The Bus Stop and world renowned Pascha throw parties almost every night of the year. These nightclubs and restaurants contribute greatly to the lifestyle led by Sharm el-Sheikh's visitors each year.
The colorful handicraft stands of the local Bedouin culture are a popular attraction. Ras Mohammed, at the southern-most tip of the peninsula, has been designated a national park, serving to protect the area's wildlife as well as its natural landscape, shoreline and coral reef. A number of international hotels and noted restaurants are clustered around the centre of Sharm, known as Naama Bay, with golf courses and other leisure facilities further up the coast.