Tadmur is the modern settlement of the ancient city of Palmyra, which developed adjacently to the north of the ancient ruins. The city currently serves as a base for tourists visiting the ruins. Syria holds an annual cultural festival in Tadmur celebrating the city's ancient heritage.
Tadmur also serves as a center for Syria's phosphate mining and natural gas industries. The first phosphate mine run by the government was established near Tadmur and started production in 1971. Work to connect Tadmur's phosphate mines to the port of Tartus began in 1978. In 1986 Soviet surveyors discovered large iron ore deposits in the vicinity of Tadmur
