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flag Global art sales dropped 12% in 2024, pushing major galleries to shift focus to the Gulf, where cultural investments are surging.

flag Global art sales fell 12% to $57.5 billion in 2024 due to economic and geopolitical pressures, prompting major galleries to shift focus to the Gulf region, where cultural investments are surging. flag Art Basel launched its first fair in Doha, Qatar, signaling a strategic pivot as Gulf states like Saudi Arabia, the UAE, and Qatar pour billions into museums and creative infrastructure to diversify economies and boost tourism. flag While works by Christo, including wrapped oil barrels, drew attention, their creators emphasized aesthetic intent over oil industry commentary. flag Palestinian artist Hazem Harb and others highlighted a growing regional artistic renaissance, reflecting broader cultural shifts. flag Industry leaders note emerging audiences in the Middle East, North Africa, and Asia, indicating a potential turning point in global art market dynamics.

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