A luxury helicopter for $10,000 and a trip to Hawaii?
That’s exactly what Singaporeans are spending on the luxury helicopter industry in 2017, according to the latest data from the latest annual report from the country’s aviation regulator.
The latest figures released by the Aviation Safety Board show that in 2017 there were more than 1,500 luxury helicopter orders in Singapore, with an average price of $8.9 million.
The report also found that Singaporean luxury helicopter owners have an average spend of $20,000 on the industry, which makes up 15.3% of the total luxury helicopter market in Singapore.
The luxury helicopter is a highly sought after item for wealthy buyers in Singapore because it’s often found with high-quality parts and features, such as the retractable landing gear and the ability to land and take off vertically in one motion.
For many Singaporeans, the cost of owning a luxury jet or helicopter can be prohibitive.
According to the Aviation Industry Association, Singapore spends about $10 billion per year on private jet purchases, with about two thirds of those costs covered by government programs.
At the same time, many Singaporean residents still struggle to afford to fly because of high costs of living and low salaries.
Singaporeans are still waiting for a decision on whether or not to accept a new government subsidy to encourage private jets and helicopters.
However, the government has said that it will gradually increase the subsidy over the coming years to make up for the growing number of private jets, according the Aviation News.