Space tourism is set to begin in the UAE, with planned space flights launching next year at a starting cost of Dh600,000. CEO Kemel Kharbachi of European space firm EOS-X Space will be operating these flights in Abu Dhabi and Spain, with flights set to begin in the third quarter of 2025. The company has developed Spaceship One manned capsules and will be conducting validation tests with military pilots in collaboration with Spain’s National Institute for Aerospace Technology.
EOS-X Space’s pressurized capsules can accommodate up to eight people, including a pilot, and will be lifted by eco-friendly helium balloons. These capsules will reach the edge of the stratosphere at an altitude of 40,000 meters, giving space tourists a five-hour trip with stunning views of space, the blue halo, and Earth’s curvature. The cost per passenger ranges between €150,000 (Dh600,000) and €200,000 (Dh800,000) and includes a personalized week-long program.
Space tourism flights offered by EOS-X Space are different from other firms that rely on rockets, offering passengers a longer and more immersive experience. The company targets high-net-worth individuals and those willing to spend between €150,000 and €200,000 for a unique experience. Globally, the space tourism market is valued at over $9 billion, with the potential for growth and accessibility in the future.
Kharbachi and his management team project revenues of $353 million in the launch year from operations in Spain and Abu Dhabi, with a gross profit margin of 19%. By 2029, the company aims to achieve a turnover of $1.127 billion and a gross profit of $324 million. The planned investment for the Abu Dhabi and Seville complexes will exceed $230 million (Dh844 million) in engineering and development.
Currently, EOS-X Space is in the process of a €115 million Series D investment round led by US investment bank FTI Capital Advisor. The company believes that the development of space tourism presents vast investment opportunities and potential for growth. As the industry evolves, space tourism could become more accessible to a wider range of individuals, similar to the aviation industry’s evolution. Abu Dhabi will host the company’s most ambitious complex globally, including a spaceport, shuttle, and hotel facilities on Yas Island, with plans for an additional facility in Tulum, Mexico.
