Abstract
Research background: In the context of the coronavirus pandemic, when cultural objects were unable to function normally for a long time, their income has significantly decreased, and state support is not enough to implement strategic projects. This is due to a sharp decline in the incomes of the population of these countries and a prolonged shutdown of large- scale production, even the stagnation of entire sectors of the economy. Purpose of the article: The article is devoted to the problem of the formation of strong brands of cultural institutions, in particular, art museums and galleries and their impact on the competitiveness of the region. Methods: We use statistical, and regression methods for analysis, which are used to assess the mutual influence of traffic flows to museums and other cultural objects on the total income in the art market. Findings & Value added: The analysis showed that work on the image, strengthening the brands of cultural institutions, increasing the level of recognition in the world and close ties with recognized art-dominants in the future will allow cultural institutions to attract significant financial flows and improve their competitive position in the world market. As the scientific increment can be considered, the results of analysis the relationship between the strong brands of art museums and other cultural objects and the tourist attractiveness of their locations, as well as the mutual influence of cultural object brands on the territory’s brand. It is proposed to modify the methodology for evaluating the brand value in an art Museum or gallery.
Highlights
In a pandemic, when all the economic resources of the countries focused on decision support needs of the health care industry, the implementation of measures to rescue the economic system and the support of citizens and businesses who find themselves in difficult conditions forced outage many sectors of the economy in different countries were on the verge of decline, being unable to conduct its activities in terms of closures, and existing prohibitions and restrictions [1]
The cultural sphere was banned and could not function properly for a long time, and even after the opening of some cultural institutions, their regime and working conditions are significantly different from the usual ones
Let's look at the main approaches to evaluating brands of cultural institutions and art objects, and identify new trends that should be taken into account in them
Summary
In a pandemic, when all the economic resources of the countries focused on decision support needs of the health care industry, the implementation of measures to rescue the economic system and the support of citizens and businesses who find themselves in difficult conditions forced outage many sectors of the economy in different countries were on the verge of decline, being unable to conduct its activities in terms of closures, and existing prohibitions and restrictions [1]. Cultural institutions and the art sector as a whole have suffered huge losses during the pandemic and continue to experience difficulties. These institutions lost their income for a long time, and in some countries they did not open after quarantine, and have to bear the constant costs of maintaining collections and ensuring proper storage conditions. States have made significant efforts to assist cultural institutions and have allocated funds to cover their ongoing costs of maintaining the collection and working conditions of the institution, but this has not always been fully possible during the peak of the pandemic
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