Tourism spaceports could contribute more than £1 billion to the UK economy each year, research suggests.
In its The Spaceport Case File, holiday cottages provider Stay in Cornwall has found three proposed spaceports in Newquay, Sutherland and Glasgow could generate an annual £1.407 billion for the country as a whole.
This is based on an average return of between £2 and £4 or every £1 invested.
However, Stay in Cornwall believe the return could rise to £12 per £1 of investment if wider impact is taken into account.
It found a Newquay attraction has the potential to create £80 million, a Sutherland project could generate £69.2 million and a centre in Glasgow could make £320 million, based on £80 million in funding provided by Prestwick airport.
“Our findings show the many benefits that the spaceport will have on both the local community and for the UK’s economy as a whole,” said Shannon Keary, communications manager of Stay in Cornwall.
“This includes how the spaceport is expected to support the UK’s government plans to capitalise on the predicted £10 billion global launch market, as well as its huge potential for return on investment when it comes to potential tourism, research capabilities and employment.”
There are reportedly seven sites pursuing spaceport status in Scotland, Wales and England.