SINGAPORE - Singapore Airshow 2018 generated more than $343 million in spending, according to a new survey released on Thursday (Oct 18).
Over six days from Feb 6, the sixth edition of the biennial Singapore Airshow saw exhibitors, trade attendees, visitors and tourists spend the amount on flights, accommodation, exhibition space, entertainment, food and beverage, and shopping.
The total amount spent was a 4 per cent increase from the 2016 show, according to the survey conducted by Kadence International.
In connecting local and global aviation stakeholders looking to expand in the region, the Airshow welcomed 54,000 trade attendees from 147 countries and regions - a 13 per cent increase in trade attendees compared with 2016.
"As the key gateway to Asia's thriving aviation and aerospace industry, we are very proud that Singapore Airshow 2018 has topped its previous track record and netted our highest ever contribution to the Singapore economy," said Mr Leck Chet Lam, managing director of Experia Events, organisers of the Singapore Airshow.
"The tremendous commercial impact of the Singapore Airshow underscores how it has been continuously raising the bar with each edition and finding new ways to reinvent itself as a key platform for global and regional companies within the aviation community to establish new business relationships and build strategic partnerships within the region," he added.
Said Mr Gino Tan, vice-president, operations (Singapore and Malaysia hotels and Pan Pacific Sonargaon Dhaka), Pan Pacific Hotels Group: "During the Singapore Airshow week in February 2018, our hotels - the Pan Pacific Singapore, Parkroyal on Beach Road and Parkroyal on Pickering - saw an uptake in room occupancy and F&B business... It is high-profile events like these that contribute to the vibrancy of Singapore as a destination and help sustain the growth of the local hospitality industry."
Mr Tan Kong Hwee, executive director, Singapore Economic Development Board (EDB), said: "Singapore's aerospace industry is a significant contributor to our economy which has continued to attract new investments in manufacturing and aftermarket, creating highly skilled jobs in the process.
"The steady growth in trade visitors to the Singapore Airshow mirrors this success and not only has it strengthened Singapore's positioning as a leading aerospace hub in the Asia Pacific, it has also contributed significantly to other sectors in Singapore."
Experia is already preparing for the next show in 2020.
Mr Leck said: "We are laser-focused on curating new programmes for the 2020 edition to ensure the Airshow continues to attract more high-level global attendees and participating companies who will contribute significantly to the local economy."
Singapore Airshow 2020 will be held from Feb 11 to 16, 2020, at Changi Exhibition Centre.