millions of visitors each year (4.74 million in 2006, 3.99 million of which international tourists ). The resorts received considerable internal and foreign investment in the late 1990s and early first decade of the 21st century, and are environmentally sound, being located reassuringly far from chemical and other smokestack industries. Varna is also Bulgaria's only international cruise destination (with over 30 cruises scheduled for 2007) and a major international convention and spa centre.
Real estate boomed in 2003�2008 with some of the highest prices in the nation, by fall 2007 surpassing Sofia (this still holds true in April 2009). Commercial real estate is developing major international office tower projects.
In retail, the city not only has the assortment of international big-box retailers now ubiquitous in larger Bulgarian cities, but boasts made-in-Varna national chains with locations spreading over the country such as retailer Piccadilly, restaurateur Happy, and pharmacy chain Sanita.
In 2008, there were three large shopping malls operating and another four projects in various stages of development, turning Varna into an attractive international shopping destination (Pfohe Mall, Central Plaza, Mall Varna, Grand Mall, Gallery Mall, Cherno More Park, and Varna Towers), plus a retail park under development outside town. The city has many of the finest eateries in the nation and abounds in ethnic food places.
Economically, Varna is among the best-performing and fastest-growing Bulgarian cities; unemployment, at 2.34% (2007), is over 3 times lower than the nation's rate; in 2007, median salary was the highest, on a par with Sofia and Burgas. Many Bulgarians regard Varna as a boom town; some, including from Sofia and Plovdiv, or returning from western countries, but mostly from Dobrich, Shumen, and the greater region, are relocating there.
In September 2004, FDi magazine (a Financial Times Business Ltd publication) proclaimed
