Investments in the Space sector are rarely perceived by the general public as something good. Typically, the first thought that pops into peoples minds is the waste of financial resources involved. Money that ultimately could be more fruitful in other sectors, like the ones involved in humanitarian endeavors.
Nonetheless, a report of 2670 pages publicized by the University of Illinois Chicago (UIC) has shown how space exploration may provide added value to the economy of a country.
The report shows that various NASA projects have led to the hiring of a significant amount of new employees, thus making a noteworthy contribution to reducing the unemployment rate.
In particular, NASA’s Moon-to-Mars project has already generated 69,000 new jobs, putting an astonishing 1.5 billion dollars into the pockets of the American Space Agency (figures that could double by the end of 2021)
Another important fact is the collaboration with the space agencies of foreign countries (over 15, including Italy), which allows NASA to substantially lower the cost of space exploration (also improving the agency’s profit margins).
NASA administrator, Jim Bridenstine recently stated:
“In this new era of human spaceflight, NASA is contributing to economies locally and nationally, fuelling growth in industries that will define the future, and supporting tens of thousands of new jobs in America. With an investment of just one-half of 1% of the federal budget, NASA generates significant total economic output annually. This study confirms, and puts numbers, to what we have long understood – that taxpayer investment in America’s space program yields tremendous returns that strengthen our nation on several fronts – a stronger economy, advances in science and technology, and improvements to humanity.”
In addition to the purely cosmetic aspect, the investment destined for Space Agencies generates improvements in the technological field. We report the case of the Jet Propulsion Laboratory, which during the recent pandemic, developed in just 37 days, a specific ventilator for patients affected by Covid-19, also donating the respirator project free of charge to allow selected manufacturers to produce on a large scale.
We have been able to see how investment in the Space sector has numerous advantages both of an economic nature and in regard to the development of new technologies that can help the population and it is therefore the right choice to continue investing into this direction.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.