Discuss in detail the role of privatisation in making Muscat Festival event successful

Muscat Festival is an annual cultural festival held in Oman in January and February. It showcases Omani lifestyle, arts, culture, and theatre and acts as an important tourist attraction for the country.

Muscat Festival enjoys sponsorship from large market players like the OTE Group, Saud Bahman Group, Bank of Muscat, Pepsi, Oman avenues Mall, Oman Tel, etc. Public spending is heavily challenged by budget constraints Privatization has allowed the festival to expand in terms of exposure as well as events, strengthening its capacities to cater to a larger international audience and hold diverse events, demonstrations, and exhibitions. One of the important criticisms against privatization has been the potential commodification of arts, religion, and culture. This possibility creates a tradeoff between authenticity and financial stability. The privatization of the festival has diversified its catalog and has maintained its cultural identity. Oman tour event under the festival ahs enjoyed massive attention from the global sports community. Oman Automobile Association holds multiple go-karting events, drift championships, and racing. The trade fair portfolio has experienced expansion and Oman has been able to double its tourists' volume, from 2.1 million in 2017 to 4.2 million in 2018.