The Impact of COVID-19 on the Gallery Sector
Art Basel and UBS present 'The Impact of COVID-19 on the Gallery Sector', a 2020 mid-year survey written by Dr. Clare McAndrew, Founder of Arts Economics. This report provides a unique analysis of how the COVID-19 pandemic has impacted the global Modern and contemporary gallery sector throughout the first six months of 2020. It also presents the results of a survey of high net worth (HNW) collectors across three major art markets – the US, UK, and Hong Kong SAR (China) – with a particular focus on how the COVID-19 crisis has changed their interactions with galleries in the art market.
In its concluding chapter, the report discusses the significant economic contribution the art market makes to the economies in which it operates in terms of employment and revenues, as well as the support of a range of ancillary industries. It concludes by reviewing some of the key issues from the report that continue to affect the market in 2020.
You can download this and previous art market reports by logging into the Art Basel site.