Farnborough airshow worth £64m to national economy

Farnborough
International Ltd (FIL), claims results of a new economic impact study of
July’s
Farnborough International Airshow (FIA) indicate the event
contributed £35m to local businesses within 25 miles of the town and was worth
£64m to the wider national economy.

The independent study was carried out by Repucom on behalf of
FIL.

The
airshow, which took place 14-20 July 2014, drew 1,500 exhibitors to the show
and 100,000 trade visitors.

Foreign
participation has grown to 65% of total visitors and local hotels and
contractors have benefitted with one million man-hours worked on site in the
month of July alone, the study reports.

Other
key findings indicate that 55% of visitors to the show stayed with 25 miles of
the town, with trade visitors staying an average of three nights. 

Average
spend was just under £161 per unique trade visitor and £753 per unique
exhibitor company (excluding the exhibiting costs), the study reveals.

As
well as highlighting the money brought in by the show’s exhibitors and
visitors, the research also highlights that the event supports 344 full time
equivalent jobs.

FIL
chief executive Shaun Ormrod says: “The event has a significant impact on the
local community and we are pleased that it is able to contribute to the local
economy in this way. We hope to be able to grow the events industry here
at FIL and see the contribution to jobs and the economy as strong reasons to
move forward with our development plans.”

Councillor
Peter Moyle, leader of Rushmoor Borough Council (RBC), adds: “Rushmoor Borough
Council has always been extremely proud and supportive of the Farnborough
International Airshow and of the immense value that it provides to the local
economy. Not only does it bring worldwide acclaim to Farnborough, but it also
helps to maintain the area’s strong reputation for business growth and
aviation.”

Trevor
Roberts, MD of RME Services Ltd, the events official electrical contractor
that has completed its fourth airshow, says turnover has increased by over 15%
and staffing levels by 30% as a direct result of involvement in the event.

Do you have news for CN? Email: Paul Colston

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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