It is a great time to be a part of the visual arts industry. Globally, the potential is staggering. In 2013, over US$1 billion of post-war and contemporary art were auctioned in New York, a record-breaking feat that generated headlines around the world. This auction serves as a prime example of how vast and lucrative the market is and should serve as an inspiration to those who have been looking to break into the industry.

Most encouragingly for our homegrown artists, the growth of the global art market lies not just in traditional big markets such as the United States and Europe.

Since the turn of the 21st century, there have been an emergence of new art markets across the world, leading to an unprecedented growth that’s driven by an increase in art fairs and auctions, digital innovation as well as rapidly-expanding galleries and museums.

It’s a truly global marketplace - one that encourages artists to think beyond borders if they are serious about making art for a living.

The demand is certainly there and now it is up to us to ensure the supply can meet and perhaps even surpass the standards that kickstarted this growth in the first place.