Italy's contemporary art market is experiencing a surge in activity, marked by the arrival of international galleries like Thaddaeus Ropac in Milan and Hauser & Wirth's planned opening in Sicily. This coincides with major art events such as Paris Internationale launching in Milan alongside the local Miart fair.
The momentum is driven by significant policy changes, including Europe's lowest VAT rate on art (5%) and reforms to the Cultural Heritage Law easing the export of older works. These financial incentives, coupled with generous tax breaks for expatriates, are attracting international dealers and a new demographic of collectors, positioning Italy as a more competitive and dynamic hub within the global art market.