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Singapore Airshow 2014 Generates S$319 Million for Singapore Economy
04 SEPTEMBER 2014
SINGAPORE, 4 SEPTEMBER 2014 – Singapore Airshow, Asia’s largest and one of the most important aerospace and defence exhibitions in the world, contributed S$319 million to the Singapore economy in 2014, according to a recent study by Kadence International. This represented a 25 per cent increase from the 2012 edition. The event, held from 11 to 16 February 2014 at Changi Exhibition Centre, attracted more than 146,000 visitors from 125 countries/regions.
The growth in Singapore Airshow’s total contribution to the Singapore economy was supported by a substantial increase in foreign expenditure, which rose 30 per cent from 2012. In 2014, S$284.9 million was accrued from spending by foreign visitors on travel and accommodation, event and exhibition space, as well as other personal expenditure such as food & beverage, leisure, shopping and transport.
The total number of exhibiting personnel at Singapore Airshow 2014 stood at 10,504, representing a 23.4 per cent increase from 2012. Of particular note was a 27 per cent increase in the number of foreign exhibiting personnel. The number of exhibiting companies similarly rose from 969 in 2012 to 1,018 in 2014, demonstrating the value the show brings to global companies aiming to reach out to the thriving Asia-Pacific region.
The study also highlighted an increase in personal spend per day by exhibitors, trade visitors and public visitors to the show. The largest increase was among exhibitors, who spent an average of S$491 per day in 2014, a 30.9 per cent increase from 2012.
“I am pleased that Singapore Airshow 2014 has had such a significant impact on Singapore’s economy, with international participants accounting for 89.3 per cent of spending. This reflects the importance accorded to our show by global aerospace and defence companies and underscores Singapore Airshow’s standing as one of the most recognised and must-attend aerospace and defence exhibitions in the world,” said Mr Leck Chet Lam, Managing Director of Experia Events, organiser of the Singapore Airshow. “The results of the study reinforces 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.”
Playing a critical role in the aerospace and defence industry ecosystem
Trade visitors and exhibitors at Singapore Airshow 2014 spanned a comprehensive cross-section of the aerospace and defence industry, with strong representation from Maintenance, Repair and Overhaul (MRO), Business and General Aviation, Avionics, Aircraft, Airframes, Engines and Defence Technology companies as well as airlines, civil aviation bodies, government and military officials.
Participants found the show valuable for networking, targeting partners and business opportunities and strengthening customer relationships. As a testament to the value the show brings to them, more than 75 per cent of exhibitors have already confirmed their plans to participate in the 2016 event.
The results of the study demonstrate Singapore Airshow’s critical role in the ecosystem of Singapore’s aerospace and defence industry, contributing to the long-term sustainability of the industry and opening doors to key markets for local and global companies alike.
“Singapore Airshow has fast established itself as Asia’s largest and most important aerospace and defence exhibition. This year, we witnessed record exhibitor numbers, strong industry participation, and strategic partnerships forged during the Airshow,” said Mr Lim Kok Kiang, Assistant Managing Director of the Singapore Economic Development Board (EDB). “There were also many new investments announced during the Airshow. Our businessfriendly 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.”
Singapore Airshow returns from 16 – 21 February 2016 at Changi Exhibition Centre.