Saudi Arabia is gearing up to become a leading destination for space tourism with plans for approximately 100 balloon-powered flights each year starting in 2026. Spanish company Halo Space is at the forefront of this initiative, having successfully completed several test flights and preparing for its next launch from the Saudi desert.
Halo Space’s Innovative Approach
Halo Space’s innovative flight experience will utilise helium balloons to carry passengers to the edge of space without the intense forces experienced during rocket launches.
These flights will take passengers to an altitude of 35 kilometres, allowing them to experience breathtaking views of the Earth, all while maintaining a unique approach to space travel that focuses on affordability and luxury.
The company aims to provide a luxurious experience, complete with fine dining and customised options for each passenger, setting it apart from competitors like Space Perspective.
With a price of €150,000 ($167,000) per ticket, the experience includes a gentle ascent and a smooth descent using advanced safety systems, ensuring a thrilling yet safe adventure.
The Impact on Saudi Arabia’s Economy
Saudi Arabia’s economy is facing challenges, including a 0.8% GDP contraction in 2023, primarily due to a 9% drop in oil GDP.
The IMF forecasts a current account surplus of 0.5% of GDP in 2024, down from 3.9% in 2023. Non-oil growth slowed from 5.3% in 2022 to 3.8% in 2023, driven by private consumption and investment.
The trade balance remains positive at 16.9% of GDP in 2022 but fluctuates with oil prices. The fiscal balance turned negative in 2023, and the financial account fell by 84.2%.
Saudi Arabia also boasts diverse mineral resources and a large desalination program.
The introduction of space tourism in Saudi Arabia could significantly boost the local economy by attracting international tourists and fostering a new industry.
With the potential for enhanced infrastructure and a burgeoning space ecosystem, the kingdom is poised to become a regional leader in this emerging market.
Experts believe that this venture could make space tourism accessible to a broader audience, democratising the experience and sparking increased interest in space exploration and technology within the region.
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