Singapore Airshow 2016 generates $329m for the economy: study

It welcomed 130,000 trade and public day visitors.

This year's airshow closed its curtains with a significant contribution to the Singapore economy as it welcomed over 130,000 trade visitors and more than 1,000 participating companies from across the globe.

According to a study by Kadence International, Singapore Airshow 2016 reaped nearly $329m from flights and accommodation, rentals and set-up of exhibition spaces, transportation, client entertainment, food and drink, leisure activities, and shopping.

This year's airshow happened late February this year, spanning six days from the 16th to 21st.

The study revealed that personal spending including expenditure on leisure and shopping activities by all foreign visitors grew 13.3% to $94.m. Meanwhile, overall personal spending all local and foreign visitors spiked up 12.4% to $111.m.

According to Experia Events Managing Director Leck Chet Lam, the airshow offers immense potential for global and regional companies to establish business relationships within the region.

More so, the study showed that spending on leisure activities by exhibitors and trade attendees this year increased by 22% and 67% respectively, while trade attendees also spent 11% more on shopping when compared to 2014.