Art Basel set to stick around in Miami Beach through at least 2031, city says

Art Basel isn’t going anywhere anytime soon.

The Miami Beach City Commission reached a new long-term agreement with the world-renowned art fair through 2031, with an option for Art Basel to extend its stay in Miami Beach through 2033, city spokeswoman Melissa Berthier said in a statement. It will remain at the Miami Beach Convention Center.

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Miami Beach City Manager Eric Carpenter has been authorized to finalize the event license agreement in coordination with the operator of the Miami Beach Convention Center, as the district evolves with the addition of the new Grand Hyatt Miami Beach Convention Center Hotel, according to Berthier.

The agreement was reached after Miami Beach offered to lower the rental fee for the convention center, Carpenter said during Wednesday’s City Commission meeting. Art Basel’s yearly rental fee had reached nearly $1 million, which the city reduced to $500,000.

Art Basel agreed to contribute $100,000 toward the city’s transportation costs, while the city offered to cover $300,000 for first responder services related to the art fair, Carpenter said.

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The art fair attracted around 80,000 visitors and generated approximately $570 million across Miami-Dade last year, Berthier said. Since debuting in 2002, Art Basel “has become the most influential contemporary art event in the Western Hemisphere.”

Noah Horowitz, CEO of Art Basel, said in the city’s statement that staff looks “forward to continuing to invest in the fair at the highest level, delivering an exceptional Art Basel Miami Beach, and building on its economic, cultural and community impact for the city and its residents in the years ahead.”

“Miami Beach has been central to Art Basel’s history and global identity for nearly 25 years,” Horowitz said.

Art Basel Miami Beach is scheduled to be open to the public from Friday, Dec. 4, to Sunday, Dec. 6, from 11 a.m. to 6 p.m. daily.

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This story was originally published October 15, 2026 at 11:22 AM.