One thing that moved markets

… is the arrival of space tourism. For American consumers, booking a ticket to space can become a reality as early as next year. The cost differs depending on your celestial destination and which rocket you’re using. 

The sky’s the limit

Leading the charge in space tourism are Virgin Galactic, led by Richard Branson, and Blue Origin, led by Amazon’s Jeff Bezos, with other notable players including Elon Musk’s SpaceX and an aerospace giant Boeing. Most companies are focused on brief journeys to the edge of space, known as suborbital tourism.¹ But orbital tourism, lunar space tourism, and even space hotels may also be on the launching pad.

Now, NASA allows tourists to stay at the International Space Station (ISS), with an out of this world lodging cost at $35,000 per person, which goes towards NASA’s life support, communications, and other expenses.²

How the stars aligned

American businessman and engineer Dennis Tito became the first-ever space tourist in April 2001, but the industry did not take off at the speed of light: There were only a handful of launches through 2009.³ It wasn’t until July 11, 2021, that Virgin Galactic launched its first fully-crewed flight. Blue Origin’s first manned mission was also in July 2021, shortly followed by SpaceX's Inspiration4 mission, which took four civilians close to orbit in September 2021.⁴

In total, there were 18 space tourists in 2021, followed by 33 tourists over the next two years. While in its very early stages, the upward trend in passengers who have taken the journey suggests that space tourism may one day achieve lift off.⁵

Out-of-this-world prices

For now, there’s a lot of variance in the type of trip  travelers might book: Tickets for a seat on a Virgin Galactic rocket will set people back $450,000, though early purchasers managed to snag tickets for roughly $250,000.⁶ Blue Origin hasn’t shared official pricing yet, but most likely reservations will have a similar cost to Virgin Galactic. In 2022, SpaceX launched its first all-private crew to the ISS for a week-long stay, with costs reaching $55 million per person.⁷ Meanwhile, the first-ever space hotel Voyager Station, set to open in 2027, will cost around $5 million for a three-day stay.⁸

Down to Earth

More than half of Americans (55%) expect routine space travel for tourists in the next 50 years.⁹ Although the industry has moved lightyears ahead in the past few decades, it will likely be a long while before going to space becomes as routine as booking a flight.

Luckily, there are virtual space tourism options, where you can feel like you’re up in space from the comfort of Earth.

And a few top headlines

Despite low unemployment and slightly cooled inflation, many consumers struggle with rising prices and stagnant salaries.¹⁰

• Car repossessions have increased by almost 25% since 2023, late payments on auto loans and credit cards are rising, and high interest rates further burden those with subprime credit.

McDonald’s fans are lovin’ this — the limited-time $5 value meal will stick around for a while longer in most U.S. markets.¹¹

• The fast-food chain rolled out the promotion in June to win cost-conscious customers. Initially planned to last just four weeks, McDonald’s has extended it through August after a surge in traffic — a win for McNuggets fans everywhere.

History is being made as Blue Origin readies to send the youngest woman beyond the Kármán line, the edge of space, in its next launch.¹²

• The upcoming NS-26 mission will include a crew of six, featuring a groundbreaking college student. This flight marks Blue Origin's return after resolving a parachute issue from its previous mission.

The results are in! The hottest Amazon Prime Day products were… garbage bags?¹³

• Trash bags, protein shakes, and liquid IV packets were three of the top five goods sold during Amazon’s blowout sales event in mid-July. According to Numerator, the average spend per order was $60, and given that many households placed multiple orders, the average total household spend this year was about $152.

Sin City sets its eyes on the stars, advancing a new frontier in space tourism with a spaceport near Las Vegas.¹⁴

• Developer Rob Lauer aims to establish the commercial spaceport complete with a pilot school and STEM academy. The ambitious project hinges on a $10 million investment, with the first step being the creation of the Las Vegas Executive Airport.