CULTURAL SPHERE AND ECONOMIC DEVELOPMENT OF THE MODERN CITY

Abstract

Modern cities face with numerous environmental, social and economic problems. There is competition between companies and states, regions and cities that strive to innovation, attracting new human resources. The potential of the creative cultural sector is increasingly taken into account. The relevance of the study is to identify culture as extremely important sphere for strengthening the economic position of the city. Modern culture seeks independent development, as its importance is due to the decisive influence on the intellectual and creative potential of society, the formation of the culture of the city and its economy. The purpose of the article will be to understand the features of a modern creative city and identify its catalysts (clusters, cultural projects, creative groups, etc.), which help to overcome economic backwardness and turn culture and the city into promising districts. The research methodology is based on the application of general scientific and special methods of cognition, in particular analysis, comparison, logical method, method of systematization, modeling of research data. Research results. Today, the economy and culture are closely linked. Values, beliefs and cultural achievements significantly affect the economic situation of cities. The cultural sphere contributes to urban savings. Such components of culture as event business, cultural projects, revitalization, competitions, statuses, etc. significantly affect economic growth. Today, the economy and culture are two intersecting circles, and at the center of these circles is a creative and enterprising person. It has a positive effect on beliefs that contribute to the free market and improve the institutional structure. The constituent elements of culture change with the development of cities and penetrate deeper into economic processes. It is important for the full and large-scale development of culture to understand its importance at the level of urban policy, which would provide for maximum use of local potential, compliance with European values. It is this understanding of culture that will contribute to its impact on economic performance. The practical value of the article is that the results can be used to study the role of the cultural sphere in the economic stabilization of not only some cities but also regions and states.