Singapore Airshow 2014 rakes in $319m for local economy

One of the aerial manoeuvres performed by the Republic of Singapore Air Force (RSAF) Black Knights team during a media preview for Singapore Airshow 2014 is the spear formation where six Black Knights reposition themselves with four jets forming the
One of the aerial manoeuvres performed by the Republic of Singapore Air Force (RSAF) Black Knights team during a media preview for Singapore Airshow 2014 is the spear formation where six Black Knights reposition themselves with four jets forming the spearhead and the other two the tail. -- PHOTO: NP FILE
Cosplayers (from left) Roland Lee, Caitlin Sison and Kogin Ko, who were dressed as characters from Japanese anime Accel World, posing for photos with fighter pilot Captain Yeo Ze Ming of the Republic of Singapore Air Force, at the Singapore Airshow 2
Cosplayers (from left) Roland Lee, Caitlin Sison and Kogin Ko, who were dressed as characters from Japanese anime Accel World, posing for photos with fighter pilot Captain Yeo Ze Ming of the Republic of Singapore Air Force, at the Singapore Airshow 2014. -- PHOTO: NP
The US Marine Corps MV-22 Osprey in flight at the Singapore Airshow 2014. -- PHOTO: ST FILE
The US Marine Corps MV-22 Osprey in flight at the Singapore Airshow 2014. -- PHOTO: ST FILE
SilkAir, the regional wing of Singapore Airlines, welcomed its first Boeing 737-800 at the Singapore Airshow 2014. -- PHOTO: ST FILE
SilkAir, the regional wing of Singapore Airlines, welcomed its first Boeing 737-800 at the Singapore Airshow 2014. -- PHOTO: ST FILE
A mock-up of the Lockheed Martin F-35 Lightning II stealth fighter plane, surrounded by crowds at the Singapore Airshow 2014. -- PHOTO: ST FILE
A mock-up of the Lockheed Martin F-35 Lightning II stealth fighter plane, surrounded by crowds at the Singapore Airshow 2014. -- PHOTO: ST FILE
Visitors watching the morning aerial display by the Republic of Singapore Air Force's (RSAF) Black Knights, in a six-plane formation at the Singapore Airshow 2014 held at the Changi Exhibition Centre on Feb 16, 2014. -- PHOTO: ST FILE
Visitors watching the morning aerial display by the Republic of Singapore Air Force's (RSAF) Black Knights, in a six-plane formation at the Singapore Airshow 2014 held at the Changi Exhibition Centre on Feb 16, 2014. -- PHOTO: ST FILE

SINGAPORE - Trade and other visitors who attended Singapore Airshow 2014 helped to rake in $319 million in direct spending for the local economy.

Held every two years, the event, which took place from Feb 14 to 19, brought in 25 per cent more compared with the 2012 edition.

The bulk of the money went into tourism receipts, hospitality, event and personal spend, organiser Experia Events said on Thursday.

The growth in total contribution to the Singapore economy was supported by a "substantial increase" in foreign expenditure, which rose 30 per cent, the firm said. This year, close to $285 million was accrued from spending by foreign visitors.

Singapore Airshow 2014 attracted 1,018 exhibitors, compared with 969 in 2012.

Managing director of Experia Events, Leck Chet Lam said: "The results of the study reinforce Singapore Airshow's position as a platform of choice for international aerospace and defence companies to increase their visibility, network and do business in this dynamic region and as an important contributor to the MICE industry in Singapore."

Mr Lim Kok Kiang, assistant managing director of the Economic Development Board (EDB) noted that many new investments were also announced during the show.

He said: "Our business-friendly environment, talented workforce and strategic location in the heart of Asia, have made Singapore the location of choice for aerospace multinationals seeking to expand their footprint in this growing Asia-Pacific market. We welcome these investments and look forward to furthering our partnership with the industry to achieve even greater success."

The next Singapore Airshow will be held from Feb 16 to 21, 2016, at Changi Exhibition Centre.