Mexico City's Art Week, taking place from February 5 to 9, is a pivotal event for Latin America's art scene, attracting collectors globally. However, this year presents difficulties as US political tensions and a stagnant market loom large. American collectors, vital to many local galleries, are hesitating, fueled by recent budget cuts to the culture sector that have left institutions scrambling for survival. While the Young Creators' grant continues to support emerging artists, concerns about the sustainability of galleries remain heightened, particularly after the closure of several US-affiliated outlets in the city.
Gallerists here are of course very nervous; American collectors are an important part of many galleries' collector base here.
The government does not understand and does not want to understand the arts. Institutions here have long since learned to find ways to survive without government support.
Budget cuts to the culture sector began under austerity measures imposed during Peña Nieto's presidency, but worsened considerably during the pandemic.
An important source of funding for young artists, the Young Creators' grant funded by the National Endowment for Culture and Arts (Fonca), has remained intact.
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