Background: Effective cultural projects have a strong impact on the global appeal and brand strength of the city they are associated with. When evaluating the effectiveness of projects, they mainly take into account the factors of financial efficiency, which makes their evaluation methods applicable only to projects with a pronounced commercial focus. At the same time, there is an acute problem of developing a socio-economic efficiency assessment model for non-profitable projects, especially projects that can change the cultural and socio-economic environment of the city. At the current stage of globalization of the cultural sphere at the development stage, it is rather difficult to assess the potential socio-economic efficiency of these projects and, moreover, to identify specific factors that may have a negative impact not only on a specific project, but also on the global brand of the city.
Purpose of the article: Development of a model for assessing the socio-economic efficiency of projects of significant cultural institutions that have a strong impact on the global image and brand of the city.
Methods: method of sensitivity analysis of complex regression dependencies to the isolated influence of selected factors by the Monte Carlo method using a special distribution Delta square(Q).
Findings & Value added: Social projects implemented by cultural institutions with a strong global brand can positively influence the global attractiveness of the city's brand. The article developed a model for evaluating social (including non-profitable) projects and assessed the impact of projects in the field of culture on the global competitiveness of the city.