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.