Arco Madrid is heading west, branching out from the desert plains of the Spanish capital to the Atlantic coast of Lisbon. The Institución Ferial de Madrid (Ifema), which runs Arco, has selected the Portuguese capital for the fair’s first international venture because it is “one of the most attractive cultural hotspots with an increasingly dynamic market”, according to a statement released today (11 November).
Arco Lisboa (26-29 May 2016) will take place at the Fábrica Nacional da Cordoaria—an 18th-century factory building in the Belem district—three months after Arco Madrid (24-28 February 2016), which celebrates its 35th year. The Lisbon fair will be smaller with only 40 to 50 galleries taking part, compared with more than 200 at Arco Madrid, and will concentrate on individual artists showing works in smaller booths, making it cheaper for galleries to participate. The application process will be open “in the following weeks” and they are expecting galleries “from Portugal, Brazil and Spain, among other countries” to participate, a spokeswoman says.
The fair’s organiser cites “the progressive recovery of the Portuguese economy” as one of the reasons for the move, although the decision was made before Monday when the centre-right Portuguese government was ousted by a left-wing anti-austerity coalition. The country’s bonds and stock market took a hit following the news, but it is still too early to see what affect it will have on its burgeoning contemporary art market