Home > Others > Singapore Airshow Newsroom > 2018 > Singapore Airshow 2018 contributed a whopping S$343 million to Singapore’s economy
Singapore Airshow 2018 contributed a whopping S$343 million to Singapore’s economy
18 OCTOBER 2018
SINGAPORE, 18 October 2018 – Singapore Airshow 2018, Asia’s largest and one of the most important aerospace and defence exhibitions in the world, reaffirmed its position as the industry’s leading platform, buoyed by trade visitorship, spend and activity, according to a recent survey conducted by Kadence International. Over six activity-filled days from 6 – 11 February, the sixth edition of the Singapore Airshow saw exhibitors, trade attendees, visitors and tourists spend a combined total of over S$343 million on flights, accommodation, exhibition space, entertainment, shopping, food and beverages, a four per cent increase compared with 2016.
Thriving local economic impact
In connecting local and global aviation stakeholders looking to expand in the region to key opportunities, the Airshow welcomed 54,000 trade attendees from 147 countries and regions – a 13 per cent increase in trade attendees compared with the 2016 edition. Trade spend of these 54,000 trade attendees grew significantly, with per day spend by trade visitors increasing by 10 per cent, and 18 per cent for participating companies.
“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 – a 35 per cent increase from the 2012 edition, the first year the biennial survey by Kadence International was conducted at the Singapore Airshow. This was only possible with the support and partnership of all our key stakeholders in the industry and government,” 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.”
“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. Pan Pacific Hotels Group is a proud partner to signature events such as the Singapore Airshow which position our city as the MICE capital of the region, and we are pleased with our positive collaboration. 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,” said Gino Tan, Vice President, Operations (Singapore and Malaysia hotels and Pan Pacific Sonargaon Dhaka), Pan Pacific Hotels Group.
Playing a crucial role in the aerospace ecosystem
The 2018 edition saw the Airshow deepening its importance to the aviation ecosystem in both Singapore and the region with more than 1,062 participating companies from 50 countries and regions including 65 of the top 100 global aerospace companies who showcased their latest products and innovations. Among these participating companies at Singapore Airshow 2018, there was a five per cent increase of those who finalised a sale with a new customer and a seven per cent increase in participating companies who formed a strategic partnership, vis-àvis the 2016 edition. Additionally, 85 per cent of these companies expect to finalise a sale, make a purchase or form a strategic partnership over the next 12 months as a direct result of their participation at the Airshow in 2018, marking an eight point increase compared to 2016.
“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,” said Mr. Tan Kong Hwee, Executive Director, Singapore Economic Development Board (EDB).
Looking towards the next edition
In the 2018 edition, trade attendees commended the continued focus on emerging technologies that offered white-space opportunities for the industry, and the What’s Next @ Singapore Airshow segment, which provided budding entrepreneurs the opportunity to interact with industry heavyweights, share ideations and establish new business development leads.
“The upcoming edition in 2020 promises industry players a deeper look at the growth opportunities for the industry as some of these emerging technologies in 2018 start to take root in the industry and undergo commercialisation in 2020,” added Mr Leck. “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 11 to 16 February 2020 at Changi Exhibition Centre.