Space Tourism in Russia: Prospects, Challenges, and Potential Demand

Due to the trend of travel digitalization, as well as the latest innovative breakthroughs in the field of cosmonautics and aerospace engineering, the mass launch of tourists into outer space seems to be a feasible prospect in the foreseeable future (Olya H. G. T., Han H., 2020). A consumer does not longer look for a way just to satisfy the need for travel. Tourists are willing to pay for emotions, impressions, unique experiences, and exclusivity and this description matches very accurately to such a direction as space tourism (Laing J. H., Crouch G. I., 2009). However, the space travel market is relatively new, exclusive, and expensive. During the official inception of space tourism (since 2001) 7 tourists have been sent to outer space. As it shown by the literature review and the market analysis presented in this paper, the supply in the space tourism market is formed, but the demand for this service is a point at issue which requires the understanding a service market in a certain country. According to the results of conducted researches the demand has been formed in the USA (Futron Corporation. Space Tourism Market Study, 2002), Australia (G. I. Crouch, T. M. Devinney, J. J. Louviere, T. Islam, 2009), the Great Britan (Reddy M. V., Nica M., Wilkes, 2012) and Asia (Y.-W. Chang, 2015). However, there are no studies evaluating the demand for space travel in Russia. Thus, the purpose of this work is to assess the demand for space travel services in Russia and identify the basic determinants of the potential target audience, followed by identifying the prospects and feasibility of developing this direction. The object of this research is the space tourism market in Russia. The subject is the demand of Russian consumers for space tourism. Based on the literature review an empirical study was made up and conducted in 2 stages. The first one is qualitative analysis (interview). Based on the paper of T. Le Goff, A. Moreau (2013). The second one is quantitative analysis (collecting quantitative data by distributing an online questionnaire). Based on the paper of G. I. Crouch, T. M. Devinney, J. J. Louviere, T. Islam (2009). The obtained data was analyzed by using a logistic regression model. The effectiveness and complexity of this method, as well as the subsequent convenience of working with data massive have also been demonstrated in a few works (for example, G. I. Crouch, T. M. Devinney, J. J. Louviere, T. Islam, 2009). Based on the data obtained, the conclusion consists both from scientific and research significance and also includes the recommendations for further practical implementation.