Analyzing how Art Basel strengthens Hong Kong’s role as a hub for contemporary art transactions in Asia through its operational mechanisms

In recent years, international art fairs have assumed an increasingly prominent role within the global contemporary art system. Yet existing scholarship often treats them as short-term market events, paying limited attention to their structural impact on the formation and consolidation of urban art hubs. Taking Art Basel Hong Kong (ABHK) as a case study, this thesis examines how, since its establishment in 2013, Art Basel Hong Kong has reinforced Hong Kong’s position as a leading contemporary art hub in Asia. Prior to Art Basel Hong Kong’s arrival, Hong Kong had already developed into a major art trading center, primarily anchored in a mature auction market. However, its high-end gallery networks, institutionalized fair platforms, and intermediary functions within the global art system remained comparatively underdeveloped. While Art Basel Hong Kong is widely regarded as a turning point in Hong Kong’s art market trajectory, its structural mechanisms and long-term urban implications require more systematic analysis. Theoretically, this study draws on global city theory, Bourdieu’s theory of capital, and art market scholarship to conceptualize art fairs as institutionalized platforms. It proposes a three-dimensional analytical framework—space, capital, and connectivity—to explain how art fairs reorganize urban art ecologies, facilitate capital translation, and construct cross-regional networks. Methodologically, the research combines literature review, case study analysis, and comparative examination of multi-source quantitative data, focusing on changes in spatial configuration, capital structure, and international participation before and after Art Basel Hong Kong’s introduction. The findings suggest that Art Basel Hong Kong has reshaped Hong Kong’s art ecosystem by intensifying spatial concentration, accelerating the conversion of symbolic capital into economic capital, and strengthening the city’s intermediary role between Western and Asian art systems. Rather than a singular market event, Art Basel Hong Kong functions as an institutional force that consolidates Hong Kong’s status as a transregional art hub within the global art system.