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Latitude is delighted to publish the results of their 4th Sectorial Study on the contemporary art market in Brazil. Latitude is a partnership between ABACT (Brazilian Association of Contemporary Art) and Apex-Brasil (Brazilian Trade and Investment Promotion Agency) with the objective of creating business opportunities for Brazilian art abroad. Alongside Dr. Ana Leticia Fialho, Coordinator of Research, who has completed the past editions, the 4th Study includes statistical analysis from Professor Marcos Lelis, an economist and professor at Unisinos. The statistical analysis provided by Professor Lelis offers interesting insights into the recent development of the Brazilian contemporary art market.
The 4th Sectorial Study found that during 2014, a period of remarkable economic instability, the contemporary art market in Brazil showed a positive result among the surveyed galleries, as the sector continued to record increases in revenue and establish new partnerships.
Full results of the 4th Sectorial Study can be found here.
Highlights include:
–51.2% of Brazilian galleries surveyed reported growth in revenue, with 47% hiring additional members of staff in 2014.
–75% of the surveyed galleries made sales within the international art market.
–The top five export destinations in 2014 were reported to be the United States, Switzerland, the UK, Spain and France. In 2014, Spain took a prominent position, overtaking France as a top destination for exports.
–48% of the galleries made new partnerships in 2014 with other galleries in Brazil and abroad.
This report has been compiled based on data from 41 of the contemporary primary market galleries that comprise Latitude: Platform for Brazilian Art Galleries Abroad. In 2014, the severe market downturn in Brazil, owing to factors including the stagnation of the economy, the presidential election and the FIFA World Cup, caused speculation about the development of the Brazilian art market. Nonetheless, as the 4th Sectorial Study illustrates, a significant portion of the contemporary Brazilian art market demonstrated strong performance in 2014.
Latitude upcoming activity
For their autumn programme, Latitude: Platform for Brazilian Art Galleries Abroad will support galleries in showcasing cutting-edge contemporary art works at Frieze London, 14–17 October 2015; Frieze Masters, 14–18 October 2015; artBO, the International Art Fair of Bogotá, 1–4 October 2015; and Odeón, 2–5 October 2015. Eight leading Brazilian galleries will present work at Frieze London and three galleries will showcase work at Frieze Masters. For artBO 2015, Latitude will see a record number of Brazilian galleries displaying works in Bogota. Five of Latitude’s galleries will present at Odeón, in Bogota, from 2 October. This year, Odeón is featuring Brazil as the guest country and will designate an entire floor of the fair to Brazilian galleries and art work.
Emma Morgan, SUTTON:
emma [at] suttonpr.com / T +44 0 207 1833577
