Can space tourism make the world a greener place? | MyWalletHero – Motley Fool UK

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Space tourism is a hot topic these days, with Elon Musk and Richard Branson both venturing into space in recent months. But what exactly is space tourism? And could it help make our society greener and more sustainable? Well, maybe, but space tourism attracts a lot of criticism, too. Heres what you should know.

Space tourism essentially means travelling into space for fun rather than for scientific purposes. It gives people with no special training the opportunity to experience Earth from a whole new perspective. That said, theres nothing cheap about jetting into space. Tickets for Richard Bransons Virgin Galactic tours cost up to 180,000. So, right now, space tourism is pretty inaccessible for most people.

Is space tourism just about leisure, though? Not necessarily. Recreational space travel opens up new markets and investment opportunities for space technology, which is great news for startups and budding entrepreneurs. Could this technology make our world greener, though? Possibly, but we cant ignore the possible environmental impact of space travel, either.

Theres no clear answer to this question.

Rocket fuels can damage our atmosphere, for one thing. And, according to scientists, one recreational space flight could generate the same amount of pollution as a transatlantic flight. The cost of space tourism might be extortionate now, but in the long term, companies like Virgin Galactic aspire to fly into space several times per day.

So, if recreational space travel becomes popular, resulting in regular trips into space, the environment could be damaged in potentially irreversible ways.

Okay, so thats one side of the debate. But what about the possible benefits of recreational space travel could it make our world greener?

Maybe. According to Malcolm McPartlin, co-manager of the Aegon Global Sustainable Equity Fund, we should stop focusing on space tourism and instead look at the possible benefits of space technology. Specifically, we should focus on new satellite technology.

As McPartlin points out, nearly four billion people currently have no internet access. By improving satellite technology, internet access would become more accessible. As a result, people could live more efficiently and reduce their carbon footprint. Whats more, enhanced satellite tech makes it easier for countries to share knowledge and collaborate in the fight against climate change.

The result? Space travel creates fresh development opportunities for startups and companies moving into the satellite tech space. While space travel itself could be greener, space investment could have a positive impact on our society and our collective carbon footprint.

The upshot? Jetting off into space for fun may not be worth the high carbon footprint. However, just because space tourism attracts a lot of criticism doesnt mean we should forego space travel completely. Instead, it might be best to focus on the benefits of developing space technology, and how we can use space travel to build a more sustainable, eco-friendly society right here at home.

Are you thinking about investing in space tech companies? Dont forget that all investments carry risk, and you might not get back what you put in. Check out our investment guide for beginners before you get started, and compare some of our top-rated share dealing accounts.

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Jennifer Laird

Jennifer is a writer specialising in debt, personal banking, and small business finance.

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Can space tourism make the world a greener place? | MyWalletHero - Motley Fool UK