Travel Market Insights
Space Tourism Market is expected to reach a revenue of USD 40,399.0 Mn by 2033, at 46.3% CAGR: Dimension Market Research
Advancements and Projections in the Space Tourism Market: Insights, Trends, Opportunities, and Recent Developments
New York, Dec. 11, 2024 (GLOBE NEWSWIRE) — Market Overview
The global space tourism market is expected to grow significantly, from USD 1,313.8 million in 2024 to USD 40,399.0 million by 2033, with a CAGR of 46.3%.
Space tourism offers unique travel experiences for private individuals, encompassing activities like suborbital and orbital flights, deep space journeys, lunar missions, and other space-related adventures near Earth’s atmosphere. The industry involves major players, including those providing space exploration experiences, spacecraft manufacturers, spaceports, and related service providers catering to a growing customer base seeking these exclusive opportunities.
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The US Space Tourism Market
The US Space Tourism Market is projected to reach USD 443.1 million by the end of 2024 and grow substantially to an expected USD 11,295.5 million market by 2033 at an anticipated CAGR of 43.3%.
In 2024, the U.S. accounts for 84.1% of the North American market revenue, driven by high-net-worth individuals’ interest in space tourism and technological advancements, including reusable rockets and spacecraft, which have lowered costs and improved accessibility. Growing investments and partnerships are spurring innovation and contributing to the market’s expansion in the U.S.
Important Insights
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Expected Growth: The global space tourism market is projected to grow by USD 40,399.0 million at a CAGR of 46.3%.
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Tourism Type Analysis: Sub-orbital tourism will hold the largest revenue share at 45.3% in 2024.
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Analysis by Category: Direct suppliers are predicted to capture 63.1% of the market share.
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Booking Channel Analysis: Online bookings are expected to gain significant traction by the end of 2024.
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End Users Review: Luxury space travelers will lead the market with the largest revenue share.
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Regional Leader: North America is expected to dominate the market, holding a 40.1% market share by 2024.
Latest Trends
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Growing Accessibility: Once exclusive to the wealthy, advancements and competition are gradually lowering costs, bringing space tourism closer to a broader audience.
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Pioneering Companies: SpaceX, Blue Origin, and Virgin Galactic are leading the charge in commercial spaceflights, offering suborbital and orbital experiences.
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Regulations and Standards: Governments and international bodies are working on safety regulations and environmental standards for responsible space tourism practices.
Many travelers applying for U.S. tourist visas should be prepared to pay at least an additional $250 for a new “Integrity Fee.”
It’s part of the recent budget law and hasn’t been implemented yet, but the Department of Homeland Security is authorized to start charging this fiscal year. Starting in Fiscal Year 2026, which starts October 1, the Visa Integrity Fee will be adjusted annually for inflation.
It applies to travelers applying for non-immigrant visas, but people from the more than 40 Visa Waiver Program countries are not subject to the Visa Integrity Fee.
Travelers are eligible for reimbursement sometime after the visa expires as long as they don’t overstay the visa expiration date by more than five days or engage in unauthorized work.
“There is no timeline for implementation of the fee or direction as to how the fee will be collected and refunded,” according to the U.S. Travel Association.
One issue: It may discourage travelers from visiting the U.S. because they would have to shell out $250 and wonder if they would ever get the reimbursement.
“This fee, which will be at least $250 and comes on top of existing visa fees, adds an unnecessary financial barrier for international visitors,” said Erik Hansen, US Travel’s senior vice president, government relation affairs. “Among the top deterrents to visiting the U.S. are cost and visa wait times. And the new visa integrity fee increases the upfront costs of visiting the U.S. 144%, while doing nothing to lower interview wait times. Even if it is technically reimbursable, the added complexity and cost will discourage visitors.”
$24 I-94 Fee
That’s not all of the costly news for some international arrivals in the new law: The application fee for the I-94 arrival and departure record will rise to $24 from $6.
This fee will likely apply to travelers entering the U.S. by land, and to travelers from Visa Waiver Program countries.
This fee will also increase each year with inflation. Those exempt from filling out the form include American citizens, resident aliens, most Canadians, and aliens with immigration visas.
$40 ESTA Fee
The Electronic System for Travel Authorization (ESTA) fee is rising to $40 from the current $21. This will be paid by travelers who enter the U.S. from Visa Waiver Program countries at least through 2034.
These are the Visa Waiver Program countries, according to the U.S. Department of State:
Visa Wait Times and Cost
A family of four from Brazil, which is not a visa waiver program country, would pay $1,876 in visa fees under the new pay structure to travel to the U.S., an increase of more than $1,100, according to the trade association.
“At a time when the U.S. should be focused on attracting more international visitors, especially ahead of global events like the World Cup and Summer Olympics, burdening them with higher fees and reducing funding for Brand USA is counterproductive,” Hansen said. “We need smarter policies that enhance our global competitiveness, not ones that make the U.S. a less welcoming destination.”
Revenue Generators
Backers of the fees, however, see them as revenue generators.
For example, 20% of the I-94 fees are earmarked for the Land Border Inspection Fee account, 20% go to Customs & Border Protection, and 60% ends up in the Treasury Department general fund.
Regarding the ESTA fee, $10 goes to the Department of Homeland Security for cost recovery, $13 is funneled to the Treasury Department for Deficit Reduction, and $17 of the fee goes to the Travel Promotion Fund, which funds Brand USA.
The travel industry’s top event returns this fall.
September 16-18, 2025 – NEW YORK CITY
Parts of the Grand Canyon National Park have been closed for the rest of the 2025 season as wildfires burn across the region, covering parts of one of the U.S.’s most visited natural landmarks in smoke.
The North Rim’s Dragon Bravo Fire exploded in size by 500 acres on the evening of July 12 as gusty winds, dry air and above-normal heat hit the area.
The fires destroyed the historic Grand Canyon Lodge and numerous surrounding cabins, according to the National Park Service.
Firefighters say there is currently zero containment.
“We are devastated by the loss of the Grand Canyon Lodge and historic buildings on the North Rim. All guests and staff are safe,” the lodge said in a statement, adding that it will be in touch with visitors who have future bookings.
Aerial footage released by the National Parks Service on Friday showed the remains of the famous lodge.
Grand Canyon Closures for the Rest of the Season
The cause of the fire was linked to lightning strikes, according to local reports.
Early damage assessments suggest that between 50 to 80 structures have been lost, including park administrative buildings and visitor facilities. No injuries or fatalities have been reported.
Fire fighting efforts continue around the threatened area.
But with fire activity still high and infrastructure at risk, officials say the North Rim will remain closed to all visitors for the rest of the year.
The South Rim, which receives the majority of visitor traffic, remains open.
Skift’s in-depth reporting on climate issues is made possible through the financial support of Intrepid Travel. This backing allows Skift to bring you high-quality journalism on one of the most important topics facing our planet today. Intrepid is not involved in any decisions made by Skift’s editorial team.
The travel industry’s top event returns this fall.
September 16-18, 2025 – NEW YORK CITY
Key Points
- The 2025 Skift IDEA Awards spotlight over 240 finalists across seven major criteria groups, highlighting innovation, creativity, and impact within the global travel industry.
- Finalists include a diverse range of companies, individuals, and projects recognized for leadership in areas like technology, sustainability, DEI, and guest experience.
- The awards process showcases the travel ecosystem’s forward-looking, purpose-driven approach, judged by an independent panel of industry experts.
Summary
The 2025 Skift IDEA Awards, now in their seventh year, have announced over 240 finalists from more than 420 global submissions, cementing the awards as a benchmark for excellence in travel innovation. Divided into seven key criteria groups—including Industry Innovators, Change Makers, Creative Thinkers, Problem Solvers, Travel Technology, Short-Term Rentals, and Meetings & Events—the program highlights individuals and organizations driving the industry forward. With categories ranging from sustainability and DEI to technology and guest experience, the awards reflect the sector’s bold, purpose-led evolution, and will be judged by a diverse panel of travel industry leaders.
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