Comment Flourishing Markets Beyond The Big Three Will Benefit The Art Ecosystem-And The Planet The Art Newspaper International Art News And Events

The global art trade is becoming less dependent on its traditional power centers, and the numbers suggest the shift is already well underway. According to the latest Art Basel & UBS Art Market Report, regions outside the US, UK and China accounted for 24% of art business in 2025, up from 17% in 2015. That change is reshaping not only where sales happen, but how the industry thinks about scale, mobility and value.

Much of the movement is tied to protectionist policy. Brexit and tariffs have created barriers that have slowed cross-border trade, particularly in contemporary art, where fluid circulation has long been essential. The report also links these policies to inflation, adding another layer of pressure to a market already adjusting to higher costs and more cautious buying.

Yet the picture is not simply one of contraction. South Korea and Switzerland grew their markets last year, while Japan and Australia were up in 2024, even in a generally subdued period. The article also points to renewed energy in places including Bangkok, Warsaw, Margate and Qatar, where galleries are increasingly building local audiences rather than orienting everything toward New York, London or Hong Kong.

That regional turn may carry an environmental dividend. A market less reliant on constant flights to fairs, openings and auctions would be less expensive to run and less taxing on the planet. It could also ease the concentration of costs and attention in hub cities, especially New York, where the US market remains heavily centered.

The United States still held 44% of the global market last year, just below its 45% peak in 2022. But even there, the geography is uneven. As artist Josh Kline has noted, New York dealers may travel regularly to Basel or Hong Kong, but far less often to cities such as Pittsburgh, Portland or Chicago. The article suggests that broader regional growth within the US, including in Los Angeles and Houston, could help rebalance that equation.

The larger question is whether a more polycentric market would strengthen the art world by widening its base, or whether it would simply redistribute pressure across more places. For now, the evidence points to a field in transition - one in which local culture, regional investment and reduced dependence on global travel may prove increasingly central to the future of art commerce.

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