What’s the best part about ending a successful summit?
Finding out that you spent less than expected.
Of course, we’re aware that Singapore’s final bill of $16.3 million isn’t peanuts, but here’s what Ministry of Foreign Affairs (MFA) had to say post-summit.
Prime Minister (PM) Lee Hsien Loong initially estimated the cost to be “around $20 million to host”, but the actual cost incurred by the Singapore Government is said to be “approximately $16.3 million”.
MFA also confirmed that the most of these dollars were spent on “security”, in an official statement released on Sunday (24 Jun).
For starters, it’s no wonder millions had to be spent to host both leaders of state.
President Trump and Chairman Kim Jong Un both required maximum security outposts to ensure their safety.
Meanwhile, media spending came up to about $4 million, according to Ministry of Communications and Information.
While the hotel bill for Mr Kim Jong Un, his sister and posse of bodyguards was footed by Singapore as well.
We also sponsored buffet spreads to keep over 3000 international reporters well-fed as they covered the summit.
And instituted multiple road closures, which required security personnel, manpower and operational costs to see through.
Of course, reactions have been mixed to the initial estimated amount of $20 million.
With one angry uncle famously losing his temper in an angry rant to security personnel.
Others tried to justify the cost of the summit in viral Facebook posts.
MFA’s reasoning, however, is that Singapore “supported international efforts to achieve peace and stability” in the Korean Peninsula.
PM Lee explained that the summit was “in our profound interest”, and acted as Singapore’s contribution to an international endeavour at a “cost we are willing to pay”.
In other words, a worthy investment for world peace?
But it’s important to note that Singapore may have enjoyed $700 million worth of media exposure, according to media analyst company Meltwater.
Singapore also did dominate the airwaves with a few national mysteries that international media tried their best to solve.
Matters like how to pronounce PM Lee Hsien Loong‘s name, and where in the world Singapore was.
HINT: Not in China, not in Malaysia.
A financial investment to promote Singapore to the world, or a genuine effort to promote peace — the Trump-Kim summit has been a memorable experience for most Singaporeans, to say the least.
For better or for worse, we’ve got one more iconic world event to add to our hosting resume.
Do you think Singapore got more than what we paid for out of the summit? Let us know in the comments.
Featured image from Lee Hsien Loong.
"Everyone listens to music on their phones nowadays," the boss lamented.
Operations returned to normal by mid-afternoon.
Vehicles were half-submerged in the water.
The perfect car for those terrified of parallel parking.
The politician and her husband adopted the monk last year.
He is also the first Singaporean to join any F1 development team.