Fuelled by a growing number of people interested in buying art and increasing sales to international collectors, London Art Fair 2016 exhibitors are confident the market for 2016 is on the up.

However, rising rents and business rates affecting the UK's competitiveness in a global art market were amongst the exhibitors main concerns.

The fair is an important date for Modern British and contemporary art collectors. 44% of the exhibitors predicted that 2016 will be as strong a year as 2015 for Modern British and contemporary art sales, with 41% predicting sales figures will be on the rise.

The greatest threat to the UK's prominence in the global art market was the rising rents and business rates, with 37% of those surveyed fearing these factors. Whilst 21% were concerned over local government cuts to arts funding and 13% expressed their worries about rising costs and reduced availability of studio space for artists.

Sarah Monk, director of London Art Fair comments: ''It is encouraging to see an upbeat prediction for the art market in 2016 as we celebrate the start of another artworld year at London Art Fair.''

"Fairs offer an increasingly valuable opportunity for galleries to increase their profile and reach new audiences. London Art Fair provides a welcoming and supportive environment for collectors looking to discover quality Modern British and contemporary art - whether they are first-time buyers or experienced patrons.''

"In the long term, our initiatives such as Art Projects 'Dialogues' and Photo50 are devised to encourage new modes of presentation and to foster relationships which can continue beyond the Fair. With Jerwood Gallery, our Museum Partner, we are able to showcase an important private collection that continues to grow and present it to a wider public."

126 UK-based and international galleries will be at The Business Design Centre in Islington from 20th-24th January 2016. For more information see here.