Singapore Airshow generates S$319 million for economy: Study

SINGAPORE — The Singapore Airshow contributed S$319 million to the Singapore economy this year, a 25 per cent increase from the 2012 edition, according to a study.

This growth was supported by a “substantial increase in foreign expenditure”, which rose by 30 per cent to S$284.9 million, the study by Kadence International found. Foreign visitors spent on travel and accommodation, event and exhibition space, as well as other personal expenditure such as food & beverage, leisure, shopping and transport.

The event, held in February at Changi Exhibition Centre, attracted more than 146,000 visitors from 125 countries/regions, said event organisers Experia Events in a statement today (Sept 4). There were 10,504 exhibiting personnel at the airshow — a 23.4 per cent increase compared to 2012. “Of particular note was a 27 per cent increase in the number of foreign exhibiting personnel,” said the organisers. The number of exhibiting companies rose from 969 in 2012 to 1,018 in 2014.

The study also highlighted an increase in personal spend per day by exhibitors, trade visitors and public visitors to the show, said the organisers. The largest increase was among exhibitors, who spent an average of S$491 per day this year, a 30.9 per cent increase from 2012.

“I am pleased that Singapore Airshow 2014 has had such a significant impact on Singapore’s economy, with international participants accounting for 89.3 per cent of spending,” said Mr Leck Chet Lam, Managing Director of Experia Events.

“Singapore Airshow has fast established itself as Asia’s largest and most important aerospace and defence exhibition. This year, we witnessed record exhibitor numbers, strong industry participation, and strategic partnerships forged during the Airshow,” said Mr Lim Kok Kiang, Assistant Managing Director of the Singapore Economic Development Board (EDB). “There were also many new investments announced during the Airshow.”

Singapore Airshow returns from Feb 16 – 21, 2016 at the Changi Exhibition Centre. More than 75 per cent of exhibitors have already confirmed their plans to participate in the 2016 event.