The purpose of this article is to develop the main elements of the organizational and economic mechanism of increasing the investment attractiveness of the sphere of culture. Method. The research is based on the use of a systemic approach to assessing the current state of functioning of the cultural sphere and improving the organizational and economic mechanism for increasing the investment attractiveness of the sphere. This research also uses a modeling method, in particular, to develop a concept of models of cultural services that can be provided by cultural institutions: free services, services on a co-payment basis and full payment by the consumer of cultural services. Results. The research identified the main problems of attracting investment in the sphere of culture and main components of the sphere of culture that need improvement. It is proved that the full functioning of the sphere of culture is possible only with the provision of quality services that can meet consumer demand. Also the place where the service is provided (infrastructure) and the staff who provide this service are very important. Therefore, to attract capital investment in the sphere of culture, it was proposed to use the tool of public-private partnership. To improve the quality of work of employees, it was proposed to introduce a system of key performance indicators for employees. In the course of scientific research, the main element of the organizational and economic mechanism of increasing the investment attractiveness of the cultural sphere in Ukraine was determined by the need to use a project approach to the formation of competitive markets for cultural services. It was determined that the solution of problems in the sphere of culture can be done only if the creation of legal and organizational conditions for financing the sphere of culture, results-oriented, diversification of funding sources, the formation of competitive markets for cultural services. Value/originality. According to the results of the research, an organizational and economic mechanism for increasing the investment attractiveness of the cultural sphere was proposed, the main elements of which were updated models of financing cultural services, new approaches to the remuneration system, use of public-private partnership, project approach.
Russian Regions’ Socioeconomic Development Strategies in the Context of Challenges Posed by the Digital Economy