The purpose of writing this article is carrying out the analysis of existing approaches to the interpretation of the concepts economic culture, as well as economic competence as one of the most important components of the economic culture and determining features of economic competence of the future hotel and restaurant business specialists during their training at higher education institution. The problem of the moral and spiritual development of the country, the observance of the cultural belonging of the ethons is very sharp in the modern period of the independent states and particularly of Ukraine. These facts take place in the process of the statehood development and the concentration of the economical development on the right way. The main researches of the western and domestic scientists about the influence of the culture on economics and their interconnection are examined and analysed in this article. Our research has allowed to define the essence of the concept of hotel and restaurant business students’ economic culture as integrative personal new formation. It makes the unity of axiological, technological, creative and personal components having a dynamic character as an indicator of formation and personality development in the economic field. The main feature of competence as a part of any culture is not specific subject knowledge. In other words conceptual living skills and abilities are necessary for a person of any specialization and at any age. Development of the economic competence is quite a complex process which is substantially explained with a psychological component. Therefore the high level of student training of any professions including hotel and restaurant business trades of “services industry” knowledge branch in economic activity has the ability to provide social economic development of the economic competence in future. Development of the economic competence of future specialists in higher education system is an actual step for satisfaction of students’ needs, increasing competence level and ensuring growth of overall performance of education institutions for the purpose of education quality improvement.