FESTIVAL TOURISM AS A TOOL FOR TERRITORIAL RECOVERY AND THE DEVELOPMENT OF THE CREATIVE ECONOMY IN THE CONTEXT OF POST-CRISIS TRANSFORMATION

Abstract

The article examines the role of festival tourism as an effective instrument for territorial recovery and the stimulation of the creative economy in the context of post-crisis transformation. It is substantiated that in contemporary socio-economic conditions, shaped by the consequences of global and local crises—particularly the COVID-19 pandemic and military conflicts—the search for innovative approaches to revitalizing local economies, enhancing the tourist attractiveness of territories, and activating internal development resources becomes especially relevant. It is determined that festival tourism acts as a catalyst for socio-economic activity, contributes to the formation of a positive destination image, and increases their competitiveness. The main functions of festivals as a component of the creative economy are analyzed, including economic, socio-cultural, communicative, and marketing functions. It is proven that the organization of festival events stimulates the development of small and medium-sized enterprises, activates entrepreneurial activity, promotes job creation, and supports local producers, artists, and representatives of creative industries. At the same time, festivals perform an important social function by fostering social cohesion, strengthening local identity, and preserving cultural heritage. The key problems and challenges of festival tourism development in the post-crisis period are outlined, including security issues, limited financial resources, insufficient development of tourism and transport infrastructure, and pronounced seasonality of demand. The directions for improving the effectiveness of festival tourism as a tool for territorial development are proposed, particularly through the implementation of digital technologies, the development of public-private partnerships, the diversification of the festival product, and the integration of event activities into regional development strategies. It is concluded that festival tourism has significant potential as a factor of territorial recovery and a driver of the creative economy, providing a multiplier effect for the economy, culture, and social sphere of regions in the period of post-crisis transformation.