Indonesia Has More Billionaires Than Japan, Will It Have More Art Buyers Soon Too?

Gulf News has brief feature on the growing traction in the Indonesian art market. Pointing out that Balinese art became popular in Europe during the 1930s turning the island into a magnet for artists. That tradition continues with Ashley Bickerton who has lived on the island for more than 20 years.

Indonesia, which is experiencing a resource-driven economic miracle, has more billionaires than Japan, according to Forbes. Add to that 17.6 million middle-class households with room for discretionary spending, according to Euromonitor International. This combined with the strong connection between collectors and their traditions are shaping the country’s art scene.

“Until recently, only Indonesians collectors collected Indonesian art. But due to globalisation, Indonesia is getting increasing interest from the international art market,” says Oei Hong Djien, owner of the OHD Museum in Yogyakarta with its impressive collection of contemporary Indonesian art.