Is space tourism ready for lift-off?
Research shows there is definite interest in traveling to space, but prohibitive price points make space experiences too far out of this world for most.
The space race between VirginGalactic, SpaceX and Blue Origins has definitely boosted interest, new research from ValuePenguin found.
A recent survey of more than 2,000 Americans conducted by ValuePigeon showed that almost half want to travel to space. However, just 19 percent are willing to fork over the Benjamins for the hefty $100,000-plus price tag.
The research also showed that men are more likely than women to want to travel to space, and older people are less likely to want to leave earth's orbit than their younger counterparts. Fifty-six percent of men versus 44 percent of women would like to travel to space, and 63 percent of Gen-Zers would want to visit space versus 38 percent of baby boomers.
The price tag makes space travel nearly unobtainable for most people. Of those consumers who want to travel to space, just 19 percent would shell out $100,000 or more to make it happen. That wouldn't even buy one seat on Virgin Galactic's SpaceShipTwo, however. Prices are estimated to start at $250,000 per person.
Probably not recommended by a financial advisor, but the research showed that 28 percent of both men and Gen-Zers would choose a free trip to space over being debt-free. Among all consumers, 23 percent opted for a trip to space rather than the ability to wipe out their debt.
Hopefully, consumer pressure will lead to lower prices. Sixty percent of Americans agree that space travel should be accessible for everyone, not just those who can afford the exorbitant costs.
Some think that traveling to space is unethical and that billionaires shouldn't be spending money on it. According to ValuePenguin, even some scientists believe that it could further harm the earth's atmosphere, harming the environment through a high rate of emissions-per-passenger.
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