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Google “commercial art hub in Asia” and Hong Kong will top the search results. How that translates in reality is harder to gauge, given the 2019 anti-government protests and strict Covid-19 pandemic restrictions in the subsequent three years had tarnished the city’s reputation.
Rival cities, including Seoul, Singapore, Taipei and even Shenzhen, have either hosted or introduced arts events to position themselves as the destination for buyers and collectors from around the region.
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Art Basel Hong Kong 2024 opens as city boosts mega-events to draw visitors
Art Basel Hong Kong 2024 opens as city boosts mega-events to draw visitors
But the overall mood was one of caution, as China is still grappling with property market woes, which have tough implications not only for the country’s economy, but also the global luxury goods sector. Many believe the art market will not be spared.
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