AH, wrote in his memoirs that the city at that time had 546 houses, 1021 shops and a population of 27,314. At that time, Rasht's political credibility was such that the Russian, British, and Ottoman governments had consulates in Rasht. Modern day Rasht is turning into an industrialized town like most of the Iranian large cities and province capitals. Enjoying the Kadus International Hotel and hundreds of tourist attractions, Rasht receives thousands of foreign tourists annually, mostly from Austria, Germany, Netherlands, France, Australia, Japan and African countries like Senegal and Cameroon as well as countries from Oceania like Micronesia. Rasht is known for its famous municipal building, located in the Square of Municipality, which was constructed circa 1900, and has been renovated each year. Due to the high amount of humidity in Rasht which damages and destroys the aged buildings, the native, older architectural texture of Rasht is gradually being replaced with the modern skyscrapers and apartments. The culture of consumerism is prevalent among the people of Rasht as a cultural and urban center which is historically engaged in close commercial and political ties with the United Kingdom, Russia and France. Due to this background which makes the inhabitants much familiar with the industrial, cultural and political developments of the west, the finance and credit institutions are more willing to open representative offices and bureaus in Rasht and it has made the city a center of various banks and financial organizations. There are many commercial centers, malls and financial institutions in Rasht including one branch of the Exports Development Bank of Iran which is an international bank dealing with the Iranian exports. The organizers and directors of national Iranian or non-Iranian banks afford to spend considerable amounts of budgets to construct attractive and modern buildings for their offices in Rasht. Since the Islamic Revolution of 1979 in Iran, there have always been requests on behalf of Russian, Turkish and Azeri banks to open branches in Rasht and that is why the city is endowed as the "gate of Europe" in Iran. The head consulate of the Russian Federation government is located in Rasht and some of the other Caspian region countries are also keen to establish representative headquarters in Rasht alongside their embassies in Tehran. Some evidences are the University of Gilan which was constructed jointly by the governments of Iran and West Germany about 40 years ago, the building