Qatar's tourism industry is growing in leaps and bounds. It 1989 Qatar recognised its rich potential for tourism, and has developed this sector ever since. The Qatar General Tourism Authority (QTA) was created in 2000, aiming to further develop and coordinate the industry. In 2000, Qatar had only 480,000 visitors classed as tourists and accounted which was the lowest of all the GCC countries. With the renewed focus on tourism led by the QTA and Foreign Investment Law allows foreigners to own up to 100% in tourism projects and lease land for up to 50 years, this is truly a growth area. Further Law No. (17) of 2004 (Soon to be in force) will allow foreigners to lease land in certain areas for a period of 99 years (Extendable for another 99 year period). New hotels, new leisure facilities and events, both cultural and sporting, will all contribute to the growth, which is targeted to increase four-fold within the next two years.