How can they give back? When you think of the space market there is three main bodies of the market. Virgin Galactic, Space X and NASA. These are all respected members of their market and have incredible credibility. Whilst they are doing amazing things I will be focusing on how Virgin Galactic and Space X help the economy and comparing them to NASA financially. Space X has been incredible on their mission on help people experience space travel for a much cheaper price than it is. Space X has spent 250 million less than NASA with their space shuttle. This is considerable amount for the government to be spending less on space travel wherever they can. (Johnson, 2018) When Elon musk proposed that they can land Key parts of their falcon nine rocket. This will be reducing costs and saving money. This will mean they won’t need to be funded extra money by the government which will ultimately mean helping the economy grow. (cobb, 2019) In contrast to Space X, Virgin Galactic also has the same mission to cut the costs of the project when can which will reduce the funding by the government. They also have sold a number of tickets to many recognisable names such as Justin Bieber and Leonardo DiCaprio. They have sold about 600 tickets with a whopping price tag 250,000. Although most of the money will go back to Richard Branson and the company some of the money will be going to the government also. (BBC, 2020) Since Virgin Galactic is a public space company anyone can buy tickets from across the globe. This could create tourism towards America creating more tourism in America and more money in the tourism sector. (Etherington, 2019) Don't forget to like us on Instagram, Facebook and Twitter! References Used
BBC, 2020. BBC. [Online] Available at: https://www.bbc.com/news/business-51639326 [Accessed 5 March 2020]. cobb, w. W., 2019. The conversation. [Online] Available at: https://theconversation.com/how-spacex-lowered-costs-and-reduced-barriers-to-space-112586 [Accessed 5 March 2020]. Etherington, D., 2019. techcrunch. [Online] Available at: https://techcrunch.com/2019/10/24/virgin-galactic-becomes-the-first-public-space-tourism-company-on-monday/ [Accessed 5 March 2020]. Johnson, B., 2018. the hill. [Online] Available at: https://thehill.com/blogs/congress-blog/technology/375815-how-spacex-embodies-the-importance-of-the-free-market [Accessed 5 March 2020].
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