INVESTING OF THE SPHERE OF CULTURE IN UKRAINE: SOURCES AND PECULIARITIES

Abstract

The article defines the sphere of culture as one that promotes the development of crit-ical thinking, the search for creative solutions, effective communication and self-expres-sion as an essential component of the environment in which personality is formed and developed. It is noted that investments in the sphere of culture can contribute to environmental quality improvement and raise the standard of population living. Therefore, the development and peculiarities of investments in the sphere of culture in Ukraine, as well as the investment increasement in culture as a basis for building a prosperous country, were investigated and proposed. In accordance with the data of the State Statistics Service of Ukraine, the statistical data of capital investments in the sphere of culture were also studied. The article analyzes the inflow of capital investments in the sphere of culture by sources of financing by types of economic classification for 2021. The importance of private investments in the cultural sphere functioning was analyzed, and the attraction of private investments aimed at financing activities in the field of sports, recreation and entertainment was compared with the attraction of investments in the financing of libraries, archives, museums and other cultural institutions. The financial mechanisms for ensuring the cultural sphere in Ukraine and European countries were analyzed. In particular, attention was paid to several tools for attracting investments to the European Union. It was concluded that culture is one of the economic sectors where creative industries contribute to the introduction of new technologies, which leads to economic growth as well as industrial development. Therefore, the development of creative industries with the introduction of relevant scientific and technical processes will lead to the growth of the country's economy.