Spaceports could be worth £1.4 billion to economy, says report



Tourism bosses have hailed the potential impact that spaceports could have on the visitor market as guests travel to see rockets launching satellites and other equipment.

Their new report calculates that two spaceports in Scotland and one in Cornwall could have a combined economic impact of more than £1.4 billion for the UK economy. The study said that Space Hub Sutherland could bring in £69.2 million, while Glasgow Spaceport could return £320 million, based on £80 million in funding provided for Prestwick Airport.

For every £1 of public money invested in the projects, a further £4 of economic benefit is likely to be triggered, according to the research by holiday cottage provider Stay in Cornwall.

Shannon Keary, its communications manager, said: “Spaceport Cornwall is an extremely interesting and unique point of interest for people looking to visit Newquay and the surrounding areas. 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.

“This includes how the spaceport is expected to support the UK Government’s 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.”

The report issued by Stay in Cornwall was based on figures from the UK Space Agency, the UK Government’s Department for Business, Energy & Industrial Strategy, and other sources.



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