On Tuesday, art Basel Hong Kong, a premier contemporary art fair in Asia, expressed optimism about the region’s art market prospects. With China and Hong Kong lifting all COVID-related lockdown measures, the event anticipates a resurgence in interest.
The annual fair, which also takes place in Basel, Paris, and Miami Beach, is scheduled for March 23-25 in Hong Kong. This year, the number of participating galleries has risen to 177, up from 130 in 2022, featuring 32 countries and territories from Asia, Europe, the Americas, and Africa.
Art Basel CEO Noah Horowitz said, “Despite pandemic challenges, the Asian art market has remained resilient, with Greater China contributing 20% of global sales by value and holding the position of the second-largest regional art market in the latest edition of Art Basel.”
In 2019, before the pandemic, Hong Kong drew 56 million visitors, but the city’s art market has yet to regain momentum, as Chinese visitors have not yet returned en masse. Prominent international galleries participating in Art Basel this year include Gagosian, Hauser & Wirth, Lehmann Maupin, Victoria Miro, Pace, Perrotin, White Cube, and David Zwirner.
A 10-meter-tall inflatable sculpture of Egyptian pharaoh Tutankhamun, titled “Gravity” and created by Los Angeles-based artist Awol Erizku, has been installed in a mall near Hong Kong’s harborfront convention center, where the fair takes place.
Hong Kong’s government has welcomed Art Basel as it works to reinvigorate the city’s economy, which has suffered from various factors, including strict COVID lockdowns, a closed border with China, and a security crackdown. Since June 2020, hundreds of thousands of people have left the territory due to a national security law used to limit freedoms and arrest numerous opposition democrats while closing liberal media outlets.
While some Western governments criticize the law as repressive, China maintains that it restored stability following the pro-democracy protests in 2019. Art Basel has emphasized its commitment to creative expression, with Angelle Siyang-Le, the director of Art Basel Hong Kong, stating, “We don’t have any censorship process in the show. We haven’t changed the process of the show since 2013.”
Art Basel Hong Kong remains committed to showcasing diverse artwork from various regions and cultures, demonstrating the fair’s dedication to fostering cross-cultural dialogue and artistic exchange. This year’s increased participation, with representatives from Asia, Europe, the Americas, and Africa, illustrates the fair’s global impact and its role in promoting international art.
In addition to the galleries, the fair offers a variety of programs, including talks, panel discussions, and special exhibitions, providing an opportunity for art enthusiasts, collectors, and professionals to engage in conversations and expand their knowledge about the ever-evolving art world.
Art Basel Hong Kong’s comeback is an opportunity for the city to reestablish itself as a leading art hub and a key player in the international art market. The return of the art fair is expected to boost tourism and encourage more local and international visitors to experience the city’s diverse and vibrant art scene.
Furthermore, Art Basel Hong Kong’s continued success may inspire other art fairs and cultural events in the region to regain momentum and adapt to the post-pandemic world. It could increase collaboration between artists, galleries, and institutions, further strengthening the art ecosystem across Asia and beyond.
As the fair returns with renewed energy and a commitment to creative expression, Art Basel Hong Kong serves as a beacon of hope for the global art community, signalling the resilience and determination of artists, galleries, and art lovers to continue celebrating and supporting the arts in a post-pandemic world.
