We studied the specifics of touristic and economic management of the polonynas of the Carpathian Region of Ukraine and characterized festival tourism in Putyla district of Chernivtsi oblast – a promising direction of developing event tourism in Ukraine. We found evolutionary changes in festivals, determined the main directions and possibilities of popularizing and managing the potential touristic resources, and evaluated the festival potential of the region. We analyzed event tourism – a significant source of formation of a positive image of the region and increase in the touristic attractiveness of the oblast and country in general. We paid special attention to festival resources, the potential of which is unlimited and is most attractive for educational, youth, ethnic and adventure types of tourism. We analyzed the polonynas of the southwest part of Chernivtsi Oblast, which were classified as small (15), average (7), large (3) and very large (2). We found most overloaded polonynas, located right near the areas where the local population constantly resides. Such include Baikalivka (Yablunytsia village), Hudivska (Poliakivska village),Shchuryntsi and Komarnyk (Ploska village), Shyroka (Hrobyshche village) and Nyzhni Rakovy (Kyselitsi village) polonynas. We characterized transhumance sheep farming, which remains a specialized sphere of farming in the polonynas. We analyzed the festival of the departure of shepherds and servants for the polonyna, which since 1967 has been held in Putyla in the last week of May. We determined that this event with an exhibition and market of regional crafts (vyshyvankas, bead accessories, pottery, weaving, pysanka decorative art, carving, wood burning and incrustation on wood, etc) is of domestic and international significance. We characterized popular Hutsul traditional accessories, related to the polonyna farming. We obtained results which may further promote multi-aspect models of marketing development of festival tourism.