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The purpose of the article is to study the theoretical foundations of understanding the phenomenon of the holiday, the definition of its potential and functions and the identification of the essential nature of the The methodology of work is based on the general scientific principles of research – terminological, historical and systemic. The purpose and objectives of the publication led to the use of such research methods: analysis and synthesis, which enabled to identify and analyse the poetic principles for understanding and to disclose the phenomenon of holiday. The sys-tem-structural way allowed to reveal the functional components of the Scientific novelty consists in the study of the theoretical understanding of the phenomenon of the holiday, the discovery and substantiation of its potential role and significance in human existence. Conclusions. The study made it possible to state that the phenomenon of the holiday in its potential activates the cultural and artistic life of the people. The holiday has the assertive ability to preserve specific values that make sense to human life and are most characteristic of a particular social group, the people as a whole. The holiday is a cultural resource that promotes the transfer of cultural traditions and gives people the opportunity to make cultural self-identification. The holiday becomes a typical occasion for understanding the future, creating a model for a public organization. Festive culture forms in man deeds, customs, norms of communicative communication, family, public, general public life, verbal formulas and gestures, ability to operate festive symbols, signs and objects.
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