Middle Eastern art market assuming greater international significance, according to Art Dubai survey

All participating galleries surveyed expressed the need to reach new collectors in new markets and an overwhelming majority of the galleries strongly agreed that Dubai s the potential to be the most important contemporary arts hub in the Middle East.

More than two-thirds of galleries questioned identified the Middle East as a significant player in the international contemporary art market while 88% felt that participating in Art Dubai 2009 would increase business opportunities in the Middle East.

"A year of research into art fairs in the region led us to conclude that, of all of them, Art Dubai had most potential for us to achieve two aims - to promote our artists in the Middle East, and to strengthen existing ties with Middle Eastern artists and galleries while developing new ones," said Emeliyan Zakharov from Triumph Gallery, Russia.

"We are coming to Art Dubai for the first time this year in hope of introducing our artists to a new hub of activity in the ever-expanding global art world. We have a gallery in Berlin, in addition to our New York location. The nearer proximity of Dubai to Berlin allows us to be closer to this Middle Eastern hub of activity. Previously, our gallery has had little exposure to the arts scene of the Middle East, which we would love to change in the future," said Cassie Rosenthal, co-owner of Goff + Rosenthal, a New York-based gallery.

John Martin, Director and Co founder of Art Dubai believes that the results of the survey are promising for the burgeoning cultural arts scene in the wider Middle Eastern region.

Martin said:

"The current economic downturn has provided the perfect climate for Dubai to take advantage of its position as a cultural hub for the wider region. The survey indicates that in an economic downturn, international galleries are looking at events like Art Dubai and its influence across a wide region to provide important opportunities, both for discovering new artists as well as meeting new collectors. Globally we are witnessing a highly significant cultural shift; it is an important moment for Dubai to develop its role as an art market centre and challenge the market dominance of New York and London."

The survey also revealed that over 80% of respondents identified contribution to the Middle Eastern art market as a key factor in exhibiting at Art Dubai. 75% of surveyed galleries stated that entering the Middle Eastern market is a primary reason for exhibiting at Art Dubai, while more than a third included finding new talent as a key reason to come to the UAE for the fair.

In addition to the more than 60 art galleries participating in Art Dubai 2009, the event will also include the unveiling of the Abraaj Capital Art Prize, where the three artist/curator teams will reveal their winning projects, enhancing their global reputation and widening their international network. The Abraaj Capital Art Prize, one of the most generous art prizes in the world, provides an exciting opportunity for creative collaboration between international curators and artists from the Middle East, North Africa and South Asia (MENASA) region.