This year’s edition of Art Basel Hong Kong, one of the most important destinations in the international art market calendar, has been canceled, with organizers citing the ‘‘sudden and widespread outbreak’’ of the coronavirus in China. The fair, held at the Hong Kong Convention and Exhibition Center, and featuring premier galleries from Asia and beyond, was to run March 17 through March 21.

“The decision to cancel Art Basel Hong Kong was an extremely difficult one for us,” said Bernd Stadlwieser, chief executive of MCH Group, the Swiss-based company behind the fair. “We explored every other possible option, including postponing the fair, and gathered advice and perspectives from many gallerists, partners, and external experts. However, today, we have no other option but to cancel the fair.”

MCH cited numerous factors including the health and safety of fair workers and visitors, the logistical challenges of mounting the event, and the escalating difficulties of travel to Hong Kong, which reported its first fatality from the virus on Feb. 3.

Last week, as Hong Kong shut down museums and schools, and limited flights from the Chinese mainland, participating dealers called for the closure of the fair.