AMITA & APARAJITA SHARMA
UNIVERSITY OF PETROLEUM AND ENERGY STUDIES
Man is curious by his nature and space travel is utter most curiosity for mankind. Few in million people got chance to sort their curiosity but what about rest millions?? When a common man would be able to fulfill his dream destination?? Millions of questions pertain in mind but there was no answer for this couple of years ago. However, the distant dream of exploring space by common man turned into reality by the introduction of space industry. People would like to experience space travel for various reasons. This paper aim to give brief idea about space tourism industry, its emerging trends and how much it is commercial viable and what are the risk factors involved in it followed by the conclusion. Further the paper aim to discuss potential of space tourism and forecasting the expected revenue and estimating the investment costs for developing space tourism.
Space tourism encapsulates the notion that paying passengers will have the opportunity to travel beyond Earth's atmosphere and experience orbital flights, prolonged stays in rotating space hotels and participate in research, entertainment and even sport. However, it is important to emphasize that this concept will necessitate a paradigm shift in how space is perceived, constituting not only the journey but also forming the destination.
Space tourism for a literal understanding of the term may be split into two words, space and tourism.
Space has been defined by many dictionaries as:
“A boundless three-dimensional extent in which objects and events occur and has relative position and direction.” Merriam-Webster dictionary
“The infinite extension of the three-dimensional region in which all matter exists.”
“The empty area outside the earth’s atmosphere, where the planets and the stars are.” (Cambridge Dictionaries, 2000). The word space invigorates the enthusiasm in any curious individual towards the darkness of the universe, not literally but, one tries to see the light beyond this darkness. Curiosity gets the better of us. With all due respect to the people who believe in the saying curiosity kills, it’s after all curiosity that got mankind reach the heights it has. Space exploration, aerodynamics, technology, communication, satellites, orbits and the list goes on-and-on are all attributed to curiosity and enthusiasm for aviation and space exploration.
Space is a term that can refer to various phenomena in science, mathematics, and communications. In astronomy and cosmology, space is the vast 3-dimensional region that begins where the earth's atmosphere ends. Space is usually thought to begin at the lowest altitude at which satellites can maintain orbits for a reasonable time without falling into the atmosphere. This is approximately 160 kilometers (100 miles) above the surface. Although the frontier between the atmosphere and space is not officially defined, it is generally accepted that space begins 100 km from the surface of the earth.
Tourism derivates from the word “tour” which means a journey in a circuit.where the most essential word is circuit which signifies a return journey to the origin point. Tourism is travel for recreational, leisure or business purposes. The World Tourism Organization defines tourists as people who "travel to and stay in places outside their usual environment for more than twenty-four (24) hours and not more than one consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited". Tourism has become a popular global leisure activity. In 2007, there were over 903 million international tourist arrivals, with a growth of 6.6% as compared to 2006....