Space Industry of Australia CEO James Brown says while recent forays into spaces may have much of the focus on billionaires and their travels, but there are wider benefits.

“The global space industry is booming; we’re seeing ten of thousands of satellites being planned to go into space in the next few decades, and there are huge economic returns for both private industry doing space operations and government,” he told Sky News Australia.

Mr Brown said in the field of space telecommunication, “every dollar invested yields a direct return of six to seven dollars,” as well as providing additional jobs.

He said Australia had a part in the plan to build the space industry, which is expected to be worth $12 billion within the decade and aims to triple revenue and jobs from space by 2030.

“That means we’ve got to grow space jobs by ten per cent roughly every year; this is getting us into the most significant international space project of the next decade: NASA’s project to get us back to the surface of the moon by 2024.”

Mr Brown said the plan was to build human habitats and to develop water and other survival necessities to live on the moon.

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