Previously thought of as science fiction, the idea of space tourism is becoming a reality in the “Third Space Age.”
Space tourism refers to the commercial activity of transporting private individuals to space for recreational purposes. There are three types of space tourism: orbital, suborbital, and lunar.
Dennis Tito became the first person in the world to travel to space as a tourist in 2001. He secured the trip to Russia’s Mir space station at the cost of $20 million.
The ISRO is in the process of developing a reusable space tourism module at an estimated cost of ₹6 crore per passenger with an expected launch in 2030.
Virgin Galactic, SpaceX, Blue Origin, Orion Span, Boeing, etc., are some private players that are already operating in or planning to enter the space tourism industry.
As per Polaris Market Research, the space tourism industry was valued at $848 million in 2023, and it is expected to grow from $1.25 billion in 2024 to $27.86 billion by 2032.