30-9-2024 (SINGAPORE) The Singapore Air Show, held in February 2024, has shattered records by generating an unprecedented economic windfall of nearly S$400 million, marking the most lucrative event in the exhibition’s history.
This biennial aerospace extravaganza, returning to its pre-pandemic grandeur for the first time since the COVID-19 outbreak, drew an impressive crowd of over 110,000 visitors from both domestic and international spheres. The event’s resounding success underscores Singapore’s resilience and its ability to bounce back as a premier destination for global business gatherings.
Experia Events, the organisers behind this monumental showcase, commissioned Kadence International, an independent market research firm, to conduct a comprehensive economic impact survey. The findings revealed a staggering 196% increase in economic benefits compared to the 2022 edition, with projections soaring from $132 million to an astounding $391 million.
The stark contrast between the 2022 and 2024 events is a testament to the world’s gradual recovery from the pandemic’s grip. While the 2022 show saw a modest turnout of just over 10,000 attendees due to COVID-19 restrictions, this year’s exhibition welcomed nearly 60,000 visitors, surpassing all previous records and marking a 10% increase from the 2018 figures.
In a statement released on Monday, 30th September, Experia Events detailed the distribution of the economic windfall. The lion’s share of expenditure was attributed to international flights, accommodation, dining, entertainment, and retail therapy. Notably, international visitors accounted for a significant portion of the overall consumption, highlighting Singapore’s enduring appeal as a global aviation hub.
Foo Chi-chuan, executive director of exhibitions and conventions at the Singapore Tourism Board, expressed his enthusiasm for the event’s success. “This air show not only reinforces Singapore’s position as a sought-after destination for business events but also showcases our capability to host world-class gatherings with far-reaching, positive impacts,” he stated. “It further cements Singapore’s reputation as the world’s premier convention and exhibition city.”
