New York is the best city for the arts in the United States. Report findings

According to a report by economist Claire McAndrew, nearly half of the world’s art sales in 2021 were generated in the United States. New York plays a leading role, with the largest number of museums and galleries in the entire country

New York, Los Angeles, San Francisco, Chicago And the you love Me It is the best art city in the United States. To decide that it is a previously published study UBSa Swiss financial company, and economist Claire McAndrew. As is the case every year, the report aims to illustrate the trend of the art market globally, and for the first time, the economist has combined the study with a second report aimed at illustrating how the cities of the USA participate in the dynamics and developments of the international art system.

New York is the best among the top 5 artistic cities in the United States

According to the study by McAndrew, in 2021, almost half of all art sales were made in the United States, with a turnover of about $28 billion. In this scenario, New York, Los Angeles, San Francisco, Chicago and Miami play a leading role, centers where major art galleries, museums and major galleries are held. On further analysis, among these five cities, New York stands out above all else and thus continues to be the art capital of the United States, hosting 26% of art institutions and organizing 36% of exhibitions across the country between 2017 and 2021. Another plus to these percentages: The Big Apple has 37% of showrooms in the entire nation, and 16% of non-profit organizations.

Top 5 art cities in the United States and the work of artists

In collaboration with Wondeur AI, a start-up that has given life through artificial intelligence to a database that collects data and the works of artists born after 1900, McAndrew calculated that although well-known artists represent only 4% of the Wondeur AI database, 47% of institutions have been Allocate galleries and 23% of galleries in art galleries to them, again between 2017 and 2021. On the other hand, emerging artists account for 84% of the database, but only 17% of institutional galleries and 36% of gallery galleries are assigned to them. . “This research has allowed us to examine the structure of American art institutions in some of the country’s major centers, and to look beyond financial and sales metrics to reflect on how their choices and behaviors affect artists’ careers,” McCandrew explained.

Desiree Maeda

https://www.ubs.com/global/en.html