New York

If you're looking for a crash course in contemporary art, there's no better place to start than New York's hip Chelsea, where a walking tour of area galleries is a veritable who's who of the art world's "in" crowd today. With a host of heavyweight museums, world-class exhibitions, and a market saturated by art media, New York is clearly in a league of its own. The Museum of Modern Art's 2004 facelift—with an estimated $858 million price tag attached—and the opening of the ethereal New Museum of Contemporary Art in 2007, highlight the city's commitment to the arts.