The Art Market as a Catalyst for Sustainable Local Development: Insights From the Brazilian Context

This paper investigates the role of the art market as a vector for sustainable local development in Brazil, based on data from the “Art Analysis Annual Report 2024” (Chemalle & Spinola, 2024b), which analyzed the performance of the country's leading contemporary art fairs: SPArte, ArPa, Rotas Brasileiras, and ArtRio. The research adopts a mixed-methods approach, combining quantitative data—such as market performance, buyer profiles, and pricing ranges— with qualitative insights drawn from ethnographic work with gallerists and other actors within Brazil’s art market ecosystem. The fairs emerge as strategic platforms for information circulation, reduction of informational asymmetries, and integration of local artists into the global market. The study observed a growing perception of art as a financial asset and an expansion of the collector base, especially among emerging and intermediate buyers. It also highlights the role of art fairs in forming social networks and fostering a sense of belonging, while providing infrastructure for innovation and transparency. By demonstrating how art can serve as a tool for economic revitalization and cultural inclusion, this paper contributes concrete proposals for public policy and institutional strategies that can strengthen the Brazilian art ecosystem in alignment with the Sustainable Development Goals (SDGs).