Basel, a town in northern Switzerland along the German border, has held an annual international exhibition since 1969. Major dealers and galleries from around the world present modern and contemporary art. Art Basel, as it is known, has a reputation as an important venue for twentieth- and twenty-first century art. According to one art critic for The New York Times, it is the "Olympics of the Art World." In 2003, Art Basel Miami Beach opened in the United States. Under the same sponsorship as its Swiss counterpart, it distinguished its presentation of modern and contemporary art by the inclusion of important dealers from Central and South America. It has become known as the most important annual exhibition and sale of contemporary art in North America.