(MENAFN - Arab Times) The Hala February Festival plays an important role in stimulating the Kuwaiti economy, noted two economists on the final day of the country's primary shopping and cultural festival.
The event which starts each year in mid-February and ended its 14th successful year on Saturday, was applauded by the head of the Kuwait Real Estate Union Tawfiq Al-Jarrah, who said that the event illustrates the tiny Gulf state's ability to host events of the largest magnitude.
"It is a good opportunity to revive the country's economy, particularly as it supports commercial retailers, shopping centres and wholesalers amid the current recession affecting the global economy," he added.
"Everyone has benefited from the festival, which provides huge sales on goods in its attempts to tout Kuwait as an upcoming tourist destination, particularly amongst the local community.
"The Kuwaiti people look forward to the event every year as it occurs during the patriotic occasions of the country's national and liberation days", he said.
The economist went on to stress the importance of full government sponsorship on the scale of organisation and the easing of procedures for foreign visitors of the event, which he described as having gained a "regional reputation." "The Interior Ministry has a role in allowing more visit permits for foreign visitors to the country, while the Ministry of Information has the important role of promoting the event," he emphasised.
Meanwhile, General Manager of Mena Financial and Economic Consultancy firm Adnan Al-Dulaimi views that the festival has enhanced Kuwait's image in the Arab world.
He also regarded the event as one of the steps aimed at transforming the country into a regional financial hub " an ambition set forth by HH the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.