The Singapore Airshow 2018 generated more than $343 million in spending, a new survey has shown.
The amount was from exhibitors, trade attendees, visitors and tourists on flights, accommodation, exhibition space, entertainment, food and beverage, and shopping.
The spending, over six days from Feb 6, was 4 per cent more than the 2016 show, according to the survey by Kadence International.
The number of trade attendees for the sixth edition of the airshow also went up.
There were 54,000 trade attendees from 147 countries and regions - a 13 per cent increase 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.
BOOST TO ECONOMY
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 GINO TAN, vice-president, operations (Singapore and Malaysia hotels and Pan Pacific Sonargaon Dhaka), Pan Pacific Hotels Group.
"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, 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, but 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 the Changi Exhibition Centre.