The launch of UK spaceports in Cornwall, Sutherland and potentially Prestwick Airport, might bring 1.4 billion pounds to the economy according to some research published on Stayincornwall.co.uk. Although only the Cornwall and Prestwick locations could feasibly carry tourists into space.
How large will the profit be from 3 UK spaceports?
Researchers were quoted on Stay in Cornwall that the commercialisation of the space sector could increase overall industry profits threefold. Currently, each pound of space investment brings 2-4 pounds of revenue. At the same time, the launching of spaceports specifically for space tourists could provide an increase in revenue of up to 12 pounds.
Stay in Cornwall states that the opening of the spaceport in Cornwall will generate 80 million pounds annually. Sutherland and Prestwick projects can bring 70 and 320 million respectively. Ancillary services could boost the growth up to 1.4 billion.
There have been overall 7 locations across UK in the race to create a UK spaceport. If all seven of them happen and the funding is available, the revenue might reach 1.7 billion pounds per year.
According to Shannon Keary, the Communications Director of Stay in Cornwall, the launching of a spaceport in Cornwall has great potential to recoup the investment through potential space tourism, research, and employment. Although the Space Cornwall management team has said publicly that they have no plans at this moment of considering space tourism at the spaceport.
Stay in Cornwall say they are expecting from British spaceport at Cornwall to create 450 new jobs and around 200 million pounds of gross value for the area.