The TEFAF Art Market Report 2014 – The Global Art Market with a focus on the US and China. In this TEFAF report on the international art and antiques market, Dr Clare McAndrew of Arts Economics analyses the €47.4 billion global art trade in 2013. This annual survey has become the established source of data on an increasingly important economic sector, which now supports 2.5 million jobs worldwide in over 308,000 businesses. This year the emphasis is on the US, the world’s largest art market, and on China, its fastest growing rival in recent years.
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The seemingly unstoppable growth of the Chinese art and antiques market came to a halt as it shrank by almost a quarter during 2012 enabling the United States to resume its traditional place as the world’s biggest market. TEFAF Art Market Report 2013 - The Global Art Market with a focus on China and Brazil also shows that amid slowing growth and continuing uncertainty in the global economy, the worldwide market in art and antiques contracted.
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