Singapore Airshow Contributes Sin$254.5 million to Singapore Economy in 2012

In a recent study conducted by Kadence International, it was found that Singapore Airshow 2012 contributed over Sin$254.5 million worth of direct spending to the Singapore economy in tourism receipts, hospitality, event and personal spend. Of this, over Sin$219 million was from foreign exhibitors, trade and public visitors.

The biennial Singapore Airshow is one of the world's largest, and this year's event took place from 14 to 19 February 2012 bringing together more than 135,000 attendees over the six days.

Singapore Airshow 2012 attracted 44,801 trade attendees with 30% coming from overseas. The two public days also attracted 90,301 visitors of which 9% were foreign. In total, Singapore Airshow 2012 drew some 22,000 foreign visitors to the event.

Of the foreign exhibitors, nearly a quarter (23%) stayed in Singapore for more than 10 days to leverage networking and business opportunities in the region, demonstrating Singapore Airshow's value and continued appeal beyond the six days of the show.

The Kadence study also established that the Singapore Airshow generated nearly Sin$120 million of foreign revenue among Singapore-based stand-building contractors, freight forwarders and F&B caterers.

"I am delighted that Singapore Airshow 2012 has had such a positive impact on Singapore's economy, with 86.2% of revenue generated coming from overseas attendees," said Mr Jimmy Lau, Managing Director of Experia Events, organiser of Singapore Airshow. "This strong showing is testimony to Singapore Airshow's position and relevance not only as a premier platform for networking and business opportunities in the global aerospace industry calendar, but also as an important contributor to the MICE industry in Singapore."

Trade visitors and exhibitors at Singapore Airshow 2012 formed a comprehensive cross-section of the aerospace industry, with strong representation from Maintenance, Repair and Overhaul (MRO), defence and land equipment systems and avionics and unmanned technology companies as well as airlines, civil aviation bodies, government and military officials.

The highest representation from exhibitors was from aircraft and parts manufacturers at 50%, while 26% of trade visitors were from the MRO industry.

As a direct result of Singapore Airshow 2012, over half of exhibitors (54%) expected to finalise a sale with a new customer while 36% of trade visitors anticipate forming a strategic partnership over the next 12 months. More than US$31 billion worth of deals were announced at Singapore Airshow 2012.

"We are heartened by the success Singapore Airshow continues to enjoy, as seen by the strong industry participation, record visitor numbers and strategic partnerships formed during Singapore Airshow 2012," said Mr Lim Kok Kiang, Executive Director, Transport Engineering of the Singapore Economic Development Board. "As demand for air travel continues to drive the growth of the Asia-Pacific aerospace industry, companies looking to better serve the needs of their regional clients can tap on Singapore's central location, business-friendly environment, and its highly skilled workforce to orchestrate their expansion in the region."

Singapore Airshow 2014 will take place from 11 to 16 February 2014 at Changi Exhibition Centre.

See also: HD Videos from the Singapore Airshow 2010, HD Videos from Asian Aerospace 2011, HD Videos from Singapore Airshow 2012 and HD Videos from Farnborough 2012

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