UBS Study Ranks New York as Top US Art City

A new study by UBS and economist Clare McAndrew has ranked New York, Los Angeles, San Francisco, Chicago, and Miami as the top five art cities in the United States. The report, which analyzes the global art market, includes for the first time a companion report on how US cities participate in the international art system. In 2021, nearly half of all international art sales occurred in the US, totaling almost $28 billion. Among the five cities, New York stands out as the nation's art capital, hosting 26% of art institutions and 36% of exhibitions nationwide between 2017 and 2021. The city also accounts for 37% of the country's galleries and 16% of nonprofit organizations. Collaborating with Wondeur AI, which uses artificial intelligence to compile a database of artists born after 1900, McAndrew found that established artists make up only 4% of the database but received 47% of institutional exhibitions and 23% of gallery shows from 2017 to 2021. In contrast, emerging artists represent 84% of the database but received only 17% of institutional exhibitions and 36% of gallery shows. McAndrew noted that the research examines the structure of US art institutions beyond financial metrics to reflect on how their choices influence artists' careers.