Adventure Awaits! Here are Some Suggestions for Your Next Trip.

June 26th, 2023 by Legacy Wealth Planning

We all look forward to “getting away”.  Travel has been a huge motivation in our lives.  Travel gives us something to look forward to and an opportunity to learn about different geography, cultures, and environments. It is interesting to know that there are many travel categories:  business travel, event travel, backpacking trips, impromptu trips, solo travel, family vacations, siblings-only vacations, and all-girls/all-boys travel however, adventure travel is one of the most popular travel types you’ll come across. 

Travel in the United States in 2019 generated spending of about $1.2 trillion dollars.  That dropped off to about 70 percent due to the pandemic.  By 2022 travel spending had rebounded significantly and presently, travel is back to its 2019 levels.  The travel industry is also presently showing strong demand as we move through 2023.  This is definitely a strong indicator of the priority that travel plays in our lives.   

Adventure Travel is definitely a niche category.  It involves exploration or travels with a certain degree of risk (real or perceived), and which may require special skills and physical exertion; any tourist activity that includes physical activity, a cultural exchange, and a connection with nature.  Adventure Travel can take many forms:

  1. Hiking and Trekking
  2. Mountain Climbing
  3. Wildlife Safari
  4. Scuba Diving and Snorkeling
  5. Rafting and Kayaking
  6. Cycling and Mountain Biking
  7. Adventure Racing
  8. Winter Sports
  9. Paragliding and Skydiving
  10. Cultural Immersion Adventures

However, there is a new category emerging, if you are so inclined.  Space Tourism.  It may be out of the financial reach presently, but in the future…the costs will come down.  Just like a personal computer in the early 90’s cost $3000 one can get one today for one-tenth that price.  We will see what the future provides. 

Space tourism refers to the concept of traveling to space for recreational, leisure, or personal purposes. It involves individuals paying for the opportunity to experience space travel and witness the wonders of outer space firsthand. While space tourism has been a topic of interest for many years, recent advancements in technology and private space companies have brought it closer to becoming a reality.

Here are some key points about space tourism:

  1. Suborbital Flights: Suborbital space tourism involves brief trips to the edge of space, where passengers experience weightlessness and get a glimpse of Earth from above. Companies like Blue Origin with their New Shepard rocket and Virgin Galactic with their SpaceShipTwo vehicle are working on developing suborbital space tourism programs.
  2. Orbital Flights: Orbital space tourism offers a more extensive experience, allowing passengers to orbit the Earth for several days or even weeks. A company called Axiom Space plans to launch private astronauts to the International Space Station (ISS) aboard SpaceX’s Crew Dragon spacecraft.
  3. Spacecraft and Vehicles: Various spacecraft and vehicles are being developed or used for space tourism. These include capsules, spaceplanes, and rockets designed to transport passengers to space and back safely. Companies like SpaceX, Blue Origin, and Virgin Galactic are among the leaders in developing space tourism vehicles.
  4. Cost and Accessibility: Space tourism has traditionally been an expensive endeavor, accessible only to a select few. However, efforts are being made to reduce costs and increase accessibility. As technology advances and more companies enter the space tourism industry, prices are expected to decrease gradually, making it more attainable for a larger market.
  5. Safety and Regulations: Safety is a paramount concern in space tourism. Companies are investing in rigorous testing and safety protocols to ensure the well-being of passengers. Governments and regulatory bodies are also establishing guidelines and regulations to ensure the safe operation of space tourism activities.
  6. Potential Benefits: Space tourism has the potential to generate revenue, promote technological advancements, and increase public interest in space exploration. It can also contribute to scientific research and development by enabling experiments and studies conducted by private individuals or organizations.
  7. Environmental Impact: Space tourism activities must consider the environmental impact of launching vehicles into space. Companies are exploring ways to reduce carbon emissions, develop reusable spacecraft, and use greener propellants to mitigate the environmental effects. These experiences are multi-day with flights lasting about 10-12 minutes of which 2-4 minutes allow the “new” astronaut to experience weightlessness. 

However, back here on earth, the number of adventure travel categories definitely draws the majority of the travel dollar but travelers are looking for more than just thrills.  According to a report by the Adventure Travel Trade Association, hiking is now the most popular activity amongst adventure travelers, beating out the more traditionally thrilling activities like kayaking and mountain climbing.  It is interesting to realize that most adventure travelers are looking for an adventure experience that puts them in a natural environment where learning, enjoying meaningful human experiences, and the immersion/experience of engaging in a new culture were top priorities.

Regardless, we are seeing strengthening economies that benefit tremendously from travel and to see that adventure travel leads the way speaks volumes about a society that values “adventure”.   

Airlines, hotels, cruise lines, and destination resorts are reporting increasing demand.  There has even been a new definition of traveling called, “revenge travel”.  Revenge is probably an incorrect descriptor but when the World began to reopen, people wanted to make up for lost time.  They booked trips, grabbed the family, and began to reconnect with the world.  Yes, mostly within the confines of the troposphere for sure but for some…just slightly above the Kármán line. 

Whatever your interest, go explore.  Remember life is about the journey, not the destination. 

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