Cape Town’s vibrant art scene has cemented itself as a key driver of the city’s economy. The recent Investec Cape Town Art Fair showcasing its growing influence.
The 12th edition of Africa’s largest contemporary art fair was held at the Cape Town International Convention Centre.
THE CAPE TOWN ART FAIR
It drew in over 30,000 visitors and featured an impressive lineup of 124 exhibitors from 58 countries, according to The Citizen.
This year’s event included 30 first-time exhibitors and works by 500 artists, solidifying Cape Town’s reputation as a global art hub.
“Cape Town’s art fair strikes a unique balance between local and international galleries,” said Laura Vincenti, director of the Investec fair.
“It acts as a vital space for discovery, networking, and fostering meaningful connections for collectors and galleries worldwide.”
CAPE TOWN ART EXHIBITIONS
The fair also spurred cultural activity across the CBD, with exhibitions at iconic venues like Iziko South African National Gallery, Norval Foundation, and Zeitz MOCAA.
The creative economy in Cape Town’s CBD has seen unprecedented growth since the pandemic, according to Artsy.
According to the Cape Town Central City Improvement District (CCID), 19 new artistic studios opened in 2023 alone. This brought the total to 43.
Additionally, there are now 32 galleries in the area.
CREATING JOBS
Events like First Thursdays continue to draw crowds to galleries, restaurants, and retailers alike.
“The creative economy has helped maintain the city’s vitality during challenging times,” said CCID CEO Tasso Evangelinos.
“It creates jobs and attracts investment outside traditional sectors while making the CBD inviting and dynamic.”
THE CAPE TOWN ART ECOSYSTEM
Mary Corrigall, art expert and organiser of the HEAT Winter Art Festival, emphasised how the city’s art ecosystem has thrived post-pandemic.
Her African Art Ecosystems report revealed a 33% growth in South Africa’s commercial gallery segment between 2019 and 2024, according to Cape Town Magazine.
“Cape Town has more galleries than any other African city,” Corrigall noted.
“Digitisation during the pandemic expanded markets for African art, enabling artists to establish physical spaces once they gained traction.”
AFRICAN ART ON A GLOBAL SCALE
Cape Town’s allure as an African art capital extends globally.
Wealthy South Africans are increasingly relocating to the city, while international visitors have surged post-Covid.
This influx has boosted local galleries and reinforced the CBD’s identity as an art hub.
Jennifer Reynolds, founder of StateoftheART gallery, highlighted how the art scene drives tourism and collaboration between businesses and creatives.
“The rise of street artist-led initiatives and hybrid retail spaces makes art more accessible,” she said.
SOUTH AFRICAN NARRATIVE
Affordable pieces with distinct South African narratives are particularly appealing to international collectors.
Events like First Thursdays, the HEAT Festival, and the Investec Cape Town Art Fair continue to elevate the city’s status on the global stage. “These initiatives celebrate art and culture while bolstering our creative economy,” Corrigall concluded.
With its thriving ecosystem of galleries, studios, and cultural events, Cape Town is not just a picturesque destination.
It is a dynamic centre for contemporary African art that promises continued growth for its economy and global reputation.
HOW CAN THE CREATIVE ECONOMY IN CAPE TOWN BE FURTHER DEVELOPED AND SUPPORTED?
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