On the opening day of SP-Arte: The Sao Paulo International Art Fair, Latitude launched the results of their 3rd Sectorial study on the Brazilian art market. A full report can be downloaded here
• 90% of Brazilian galleries surveyed reported an increase in volume of business and 60% hired additional members of staff in 2013.
• The average growth among all galleries surveyed in 2013 was 27.5% (up from 22.5% in 2012).
• Total export sales for Latitude galleries in 2013 were $51,314,577 USD, which is an almost 90% increase over 2012’s export sales of $27.130.165 USD.
• The main destinations of exports were reported to be the United States, United Kingdom, Switzerland, France, Spain and Colombia which is a new addition to the list of top destinations.
• As part of an exclusive study by ArtTactic coordinated by Anders Petterson, it was found that there is great interest and confidence on the part of international collectors in the Brazilian art market as 40% of collectors surveyed had already acquired works by Brazilian artists, and 74% intend to do so in the next 5 years.
This report has been compiled based on data from 45 of the contemporary primary market galleries that are part of Latitude: Platform for Brazilian Art Galleries Abroad.