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| WiT space tourism |
The session, moderated by Fritz Demopoulos, CEO of Queens Road Capital, featured Jess Yap, founder of Intriq Journeys Singapore, and Seng Lim, founder and MD of In.Genius. They discussed the growing space tourism industry, highlighting the progress of companies like Virgin Galactic, Blue Origin, and Space Perspective. Demopoulos emphasized the historical context, citing early civilian spaceflights and the increasing consumer demand and investment in space experiences.
Siew Hoon Yeoh, founder of Web in Travel, commented on the significance of this session for the APAC region: "Space tourism may seem like a distant concept, but this session highlighted its growing relevance, particularly in the APAC market. While the current uptake in Asia is low, the potential for growth is immense. As costs decrease and accessibility improves, we can expect to see more Asian travelers venturing beyond Earth. This presents exciting opportunities for travel businesses in the region to innovate and cater to this new breed of adventurer."
Key Findings:
- Space tourism is here: The discussion highlighted the significant progress made by companies like Virgin Galactic, Blue Origin, and Space Perspective in making space tourism a reality.
- Demand is growing: Demopoulos emphasized the growing consumer demand for space travel, citing historic flights by civilians like Dennis Tito and Jared Isaacman, and the substantial investments being poured into the space tourism sector.
- Exclusive and expensive: Yap, whose agency is a preferred partner with Virgin Galactic, provided a glimpse into the exclusive experience, detailing a 5-day program that includes training and a brief taste of weightlessness, all for $600,000.
- Asia is an emerging market: She noted that Asian travelers have been slow to embrace space tourism, with less than 10% of Virgin Galactic's tickets sold in the region.
- Alternative experiences: Lim presented an alternative approach to space tourism with his company's gentler balloon flights to the edge of space. Priced at $100,000, these flights offer a more accessible and less intense experience compared to rocket-powered launches.
- The overview effect: The panel discussed the transformative "overview effect" experienced by astronauts, which provides a profound emotional and perspective shift after viewing Earth from space.
- Parabolic flights: They also touched on parabolic flights as a way to simulate weightlessness and cater to those seeking the sensation without venturing into space.
- Evolution of space tourism: The session traced the evolution of space tourism from a fantastical idea to a reality, with the first paying space tourist venturing to space 23 years ago.
- Personal transformation: The panelists emphasized that space travel is more than a physical journey; it's an emotional voyage that offers a new perspective on life and our place in the universe.
- Competition fuels growth: The emergence of competitors in the space tourism market validates the industry and contributes to its growth by offering different experiences and price points.
- Non-astronauts in orbit: Space travel has become more inclusive, allowing civilians who are not professionally trained astronauts to experience space.
- Advancing to space hotels: The concept of space hotels, while still speculative, represents the ambitious trajectory of space tourism and the potential for long-duration off-planet stays.
The session concluded with an emphasis on the transformative potential of space travel and its ability to expand human horizons. As space tourism becomes increasingly accessible, it is poised to redefine the boundaries of the travel industry and offer unparalleled experiences for adventurous travelers.
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