Space Tourism Could Create $1 Trillion Opportunity
The idea of space travel is out of this world.
Millions are enthralled by it. Millions more want to travel to space, which could eventually happen. Granted, while space tourism companies aren’t ready to send folks into space just yet, the industry is seeing demand.
In fact, according to analysts at Cowen, “39% of people with a net worth of more than $5 million are interested in paying at least $250,000 for a flight.”
Better, by 2040, Morgan Stanley believes the industry could be worth about $1 trillion.
That is, if companies can get off the launch pad with paying customers.
- Richard Branson’s Virgin Galactic wants to travel into space as early as this year and build a path for the first commercial space flights.
- Jeff Bezos recently stepped down from his role as Amazon CEO to devote more focus to his Blue Origin space venture and compete.
- Elon Musk founded SpaceX- a company focused on commercial space travel and even colonizing Mars of all places.