Cultural Consumption And Macroeconomic Factors Analysis Of Hangzhou Residents

Since the international financial crisis in2008, Hangzhou issued a series of pro-growth spending plans in order to maintain the steady rising in consumer market. After2010, Hangzhou economy began emerging from the financial crisis, with economic growth achieving stabilization and recovery support, however deep-seated reasons still exist. A substantial increase in revenue of Hangzhou consumer leads its demand from "survival" to the level of "enjoyment" and "development". Paradoxically, as a reflection of the high-level spiritual needs of the residents, the cultural consumption declined instead of increasing. In this paper, we are trying to unlock the black box of Hangzhou cultural consumer demand related to these issues. This paper firstly describes the trends of cultural consumption of Hangzhou resident and carries out cultural consumption comparison with different income groups of the population characteristics. Then, based on the macro perspective, we use quantitative analysis techniques to investigate urban residents and rural residents’ cultural consumer behavior, build cultural consumption model, culture and entertainment model, consumer goods model, culture and entertainment service consumption model and consumer education model through stepwise regression techniques to achieve model screening and parameter estimation Research turns out that the macroeconomic factors that affect people’s cultural consumption have certain urban-rural differences:urban residents are affected mainly by living standards, consumer habits, income uncertainties and the price of culture products, while rural residents are mainly affected by the quality of life and new technological revolution; besides, different types of macroeconomic cultural consumption factors also have differences:all types of cultural product consumption are reflected positively by income level, development of cultural industries has a more significant impact on cultural entertainment products, residents’education consuming behavior is more vulnerable to the impact of national macroeconomic policies, and leisure time is a more significant factor for cultural and recreational services spending. Finally, five suggestions are given from in terms of income level, cultural product prices, development of cultural industries, cultural infrastructure and other non-compulsory education.