Statista trend report on the effect of Brexit on the art market in the United Kingdom and the European Union
The United Kingdom is the biggest European art market, as well as one of this sector's global players along with the United States and China. Before officially leaving the European Union in 2021, London was the most important hub for importing artworks into the EU. Now, with the country out of the single market, there has been speculation about whether the UK could lose some of its influence in Europe to Paris, the second-biggest European art market.
This report analyzes the multiple variables impacting the art trade in the UK and the EU after Brexit, both in the short and the long run.
The study starts by looking at the evolution of the art market in the United Kingdom during the years of Brexit negotiations. It then considers the immediate impact of Brexit in the two areas and the different aspects that could influence the UK-EU art trade in the following years.
Finally, the report looks at how the coronavirus (COVID-19) pandemic and the rise in online art sales might play a role in shaping the post-Brexit art trade.
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