From the final frontier to the metaverse: exploring the role of sharing economy principles in revolutionizing space tourism

Abstract

Purpose

As exponential technologies continue to transform business models rapidly, there is a growing focus on metaverse research within the tourism industry. Despite the significant findings, the practical discussion of high-cost and resource-demanding space tourism within the metaverse platform is still abstract. This study aims to provide a comprehensive understanding of virtual space tourism and consumer motivations inspired by the intrinsic principles of the sharing economy business model and the metaverse platforms.

Design/methodology/approach

By gathering primary data through questionnaires from individuals interested in virtual space tourism and using the 530 valid responses, this study uses the unified theory of acceptance and use of technology 2 (UTAUT2) along with the status quo bias theory (SQB) to better comprehend travelers’ motivations for engaging with the metaverse in space tourism.

Findings

The study confirms UTAUT2’s effectiveness in predicting travelers’ adoption behavior. Specifically, factors such as performance expectancy, effort expectancy, social influence, hedonic motivation, price value and facilitating conditions significantly impact attitudes and behavioral intentions toward adopting the metaverse for space tourism. Furthermore, skepticism significantly moderates the relationship between attitudes and behavioral intentions.

Originality/value

This study is one of the first to empirically explore the motivations for using metaverse capabilities in the context of space tourism. In line with recent calls for more research on advancing UN sustainable development goals through the metaverse platform, this research discusses findings based on eight shared attributes in both sharing economies and the metaverse platforms that offer the potential for sustainable, socialized and affordable access to space tourism. In addition to the managerial implications, this study outlines future research directions, drawing on insights from the sharing economy’s success in the tourism industry.

Citation

Beheshti, M., Mladenović, D., Sadraei, R. and ZareRavasan, A. (2024), "From the final frontier to the metaverse: exploring the role of sharing economy principles in revolutionizing space tourism", International Journal of Contemporary Hospitality Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJCHM-09-2023-1487