Economic crisis hits Madrid's Arco art fair
Madrid - Arco, one of the world's biggest art fairs, felt the impact of the global economic crisis as it opened for the 28th time Wednesday with a lower number of exhibitors.
The number of exhibitors had gone down from 257 in 2008 to 238, organizers said in the Spanish capital.
About 30 countries are participating in the Arco this year, with the guest country India representing one of Asia's most booming art markets.
The economic crisis had hit art galleries like other sectors, organizers said, also attributing the reduced number of exhibitors to strict selection criteria.
The Arco seeks to include all the main tendencies of modern art, with the emphasis on avant-garde, including performing and video art.
The Arco will run through February 16. (dpa)
