The Singapore Airshow Continues to Make Significant Contributions to the Singapore Economy
aerobd.news : Nearly S$329 million in spending generated for Singapore’s economy by this year’s event. The Singapore Airshow, Asia’s largest and one of the most important aerospace and defence exhibitions in the world, continues to make significant contributions to the Singapore economy, according to a recent survey conducted by Kadence International. Singapore Airshow 2016 exhibitors, trade attendees, visitors and tourists spent a combined total of nearly S$329 million on everything from flights and accommodation, the rental and set-up of exhibition spaces, to transportation, client entertainment, food and drink, leisure activities and shopping.
Over six activity-filled days from 16 – 21 February, Singapore Airshow 2016 welcomed over 130,000 trade and public day visitors, and more than 1,000 participating companies from 48 countries and regions including 65 of the top 100 global aerospace companies. Some 286 VIP delegations from 90 countries and regions were also in attendance. This marked an increase of 18 per cent from the 76 countries and regions represented in 2014. The Airshow also welcomed more than 48,000 trade attendees from 143 countries and regions, of which 30 per cent were from overseas, an increase of 7 per cent when compared to the number of trade attendees at the last Airshow.
“As the key gateway to the Asia Pacific aviation market, the Singapore Airshow offers immense potential for global and regional companies to establish new business relationships within the region,” said Mr Leck Chet Lam, Managing Director of Experia Events, organisers of the Singapore Airshow. “This business-centric focus remains the number one draw of the Airshow, and the reason why it continues to be a must-attend event on the global aviation event calendar.”
With 77 per cent of exhibitors and 57 per cent of trade visitors expecting to finalise a sale, make a purchase or form a strategic partnership as a direct result of their participation, the Singapore Airshow continues to reinforce its standing as the key platform for global companies looking to expand in the fast growing Asia Pacific aviation market.
“The Singapore Airshow remains a global marketplace and networking powerhouse for the aviation community by providing the platform of choice in the region for executives from top aerospace companies to network and build partnerships,” said Mr Lim Kok Kiang, Assistant Managing Director of the Singapore Economic Development Board (EDB). “The significant growth in visitors and spinoffs underscore Singapore’s status as the leading aerospace hub in the region.”
The survey findings also reveal that personal spending including expenditure on leisure and shopping activities by all foreign visitors grew by 13.3 per cent to S$94.5 million, with overall personal spending by all local and foreign visitors increasing 12.4 per cent to S$111.2 million this year.
Explained Mr Leck: “At the same time, the Singapore Airshow provides an exhilarating experience that offers something for fans of all ages and interests, and our visitors are increasingly factoring that into their travel plans.”
In fact, the Kadence survey results show that spending on leisure activities by exhibitors and trade attendees this year increased by 22 per cent and 67 per cent respectively, while trade attendees also spent 11 per cent more on shopping when compared to 2014.