Well, we knew sooner or later, space travel would be made available to the masses. Yesterday, Virgin Galactic unveiled their spaceship design that will allow travelers to take rides into outer space beginning in 2009. Richard Branson, founder of the Virgin Group, is truly paving the way to a new age with his latest entrepreneurial venture.
Traveling on the spaceship will not be cheap: Tickets cost $200,000 apiece. Despite their high price, Virgin Galactic has already sold over 100 of them. Once the prices begin to drop, as they always do when competition develops and the technology becomes more cost effective, watch out for the new millennium of travel.
What’s next--commercialized space stations, space amusement parks, space memorabilia shops, space hotels, space cruises, trips to the moon and beyond? It is mind-boggling to think about the potential in this untapped marketplace. It seems almost a given that there are going to be a lot of new businesses created in this marketplace, and a lot of money made by some savvy entrepreneurs and investors. No space business endeavor would be without risks, but the potential rewards could be almost beyond comprehension.
The space age is coming, but are we ready to embrace it? Most people still seem to think commercial space travel won’t happen in their lifetime. It is coming, though, and those who embrace it early on could find some great investment opportunities waiting for them.