Cape Town, 4 April 2025:  Cape Town’s creative economy – and the art culture in the CBD – is in the spotlight with the recent conclusion of the most successful edition of Africa’s largest contemporary art fair, the Investec Cape Town Art Fair.

 

The 12^th edition of the art fair confirmed its status as a dynamic platform for local and international exhibitors to showcase a full spectrum of contemporary artworks and practices.  With 30 first-time exhibitors and an impressive range of diverse artworks, from innovative materials to bold new artistic expressions, the fair showcased 124 international exhibitors, presenting works by 500 artists from 58 countries and drawing over 30 000 visitors.

 

The preeminent event in South Africa’s arts calendar provided impetus for important exhibition openings and social events at the Iziko South African National Gallery, Norval Foundation and Zeitz Museum of Contemporary Art Africa (MOCAA) – as well as the launch of the second Stellenbosch Triennale, providing international collectors and industry professionals visiting Cape Town in 2025 with a plethora of riches.

 

The fair, which takes place in the CBD, continues to “maintain a unique balance between local and international galleries, acting as a vital space for discovery, networking and fostering meaningful connections for collectors and galleries from around the world on the African continent," says art fair director, Laura Vincenti.

 

GROWING SECTOR

Art is a central and growing sector in the Cape Town CBD, contributing to its vibrant inner-city culture. Events like the eternally popular First Thursdays are a huge drawcard for visitors, directing foot traffic not only to the galleries but also to restaurants, bars and retailers. 

 

According to the State of Cape Town Central City Report 2023 – A year in review, published annually by the Cape Town Central City Improvement District (CCID), the CBD saw unprecedented growth in the CBD’s creative economy after the pandemic. In 2023 alone, 19 new artistic studios were established in town, bringing the total number in town to 43. This excludes art galleries, of which there were 32. 

 

“The influence of the art world extends far beyond its economic benefits and needs to be nurtured. The creative economy has helped maintain the city’s vitality during challenging economic times, creating jobs and attracting investment outside of traditional business sectors. The CCID plays an important role by helping to foster this economic activity, ensuring the CBD is safe and clean and inviting,” says CCID CEO Tasso Evangelinos.     

 

Art expert, researcher and commentator Mary Corrigall, of Corrigall & Co, organised the first HEAT Winter Art Festival last year to support the inner-city art sector during the slow winter months. The 12-day event, which took place in town, focused on art exhibitions, supported by jazz, opera and theatre and focusing on emerging talent.

 

According to Corrigall’s African Art Ecosystems 2024 report – which measures the growth of art economies in African capital cities, between 2019 and 2024, South Africa's commercial art gallery segment increased by 33 %.

 

Cape Town's art ecosystem, which includes various art galleries, studios and private foundations, experienced the highest growth during and after the Covid-19 pandemic, outpacing developments in Johannesburg, Casablanca, Marrakech and Lagos.

 

Corrigall confirms: “Cape Town is one of the most significant art capitals in Africa. There are more galleries in Cape Town than in any other city on the continent. The growth of brick-and-mortar galleries in Cape Town ironically stems from the digitisation of the art market during the pandemic, which allowed new art entrepreneurs to gain access to the market without needing a physical space. Digitisation has grown art markets and audiences for art across Africa. Once artists gain traction in the market, they often go on to open or participate in a physical gallery.”

 

Corrigall points out that semigration has seen a 20 % increase in the number of wealthy South Africans moving to Cape Town. In addition, foreign visitors to Cape Town increased post-Covid, resulting in events like the Investec Art Fair to increasing in size and visitor numbers. The influx of visitors has seen galleries in town prosper, reinforcing the CBD’s identity as an art hub and bolstering the creative economy.

 

FRESH PLATFORMS

Jennifer Reynolds, founder-owner of StateoftheART gallery believes that the art scene positively contributes to the CBD’s economy by increasing foot traffic to cultural districts, driving tourism, and encouraging collaborations between businesses and creative professionals, providing artists with fresh platforms to showcase their work. 

 

“Cape Town’s art scene is evolving into an ecosystem that merges art, commerce and community engagement. The rise of street artist-led initiatives as well as hybrid retail spaces make art more accessible and commercially viable,” says Reynolds. 

 

Art lovers, particularly from Europe, the United States, and Asia, view Cape Town as the leading hub for African contemporary art. They are attracted to affordable pieces with a recognisable South African narrative. For international art lovers visiting Cape Town, SA’s weaker currency makes the purchase of quality local art very compelling.        

 

“It is vital that we continue draw attention to the city centre’s art businesses. This is one of the motivations behind the HEAT Festival, which celebrates art and culture. It takes place in June during the winter months when visibility is most needed. The ongoing success of the Investec Cape Town Art Fair, First Thursdays and new initiatives like the HEAT Festival will solidify Cape Town's position as a key player in the global art scene and bolster the creative economy”, concludes Corrigall. 

 

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