In 2014, seven of the 20 most visited exhibitions across the world took place in Brazil, with one artist towering over the rest. Despised by scholars and critics, how does Romero Britto sell art worth over $50 million a year? And why do Brazilians love his colourful imagery so much?

Nine years ago, the first branch of 21c Museum Hotels opened its doors – residencies for wealthy travellers that double up as 21st century art museums. The idea might’ve seemed a little conceptual, but in 2015, luxe hotel chains across the world are investing in their art collections.

The most expensive painting ever sold cost over $142 million in May 2014. The high prices of art often overshadow the artworks, while preventing most people from ever owning them. In July 2014, Swedish gallery Kosta Boda instead let people bid on works with their emotions.

New shopping malls and a young population with sophisticated shopping tastes are helping make Brazil one of the world's most profitable luxury markets. But the recent economic downturn means optimism is ebbing. Does a gloomy economic outlook spell the end of Brazil’s luxury bonanza?