While the Coast Guard’s cost for the mission is likely to run into the millions of dollars, it is generally prohibited by federal law from collecting reimbursement related to any search or rescue service, said Stephen Koerting, a U.S. “We cannot attribute a monetary value to Search and Rescue cases, as the Coast Guard does not associate cost with saving a life,” the agency said. The operator charged passengers $250,000 each to participate in the voyage. The five people lost included a billionaire British businessman and a father and son from one of Pakistan’s most prominent families. Coast Guard declined Friday to provide a cost estimate for its efforts to locate the Titan, the submersible investigators say imploded not far from the world’s most famous shipwreck. That question is gaining attention as very wealthy travelers in search of singular adventures spend big to scale peaks, sail across oceans and blast off for space. “There are many people who are going to say, ‘Why should the society spend money on the rescue effort if (these people) are wealthy enough to be able to … engage in these risky activities?’”
“Five people have just lost their lives and to start talking about insurance, all the rescue efforts and the cost can seem pretty heartless - but the thing is, at the end of the day, there are costs,” said Arun Upneja, dean of Boston University’s School of Hospitality Administration and a researcher on tourism. And with rescuers and the public fixated first on saving and then on mourning those aboard, it has again made for uneasy conversation. In recent days, the massive hunt for a submersible vehicle lost during a north Atlantic descent to explore the wreckage of the Titanic has refocused attention on that conundrum.
When millionaire Steve Fossett’s plane went missing over the Nevada range in 2007, the swashbuckling adventurer had already been the subject of two prior emergency rescue operations thousands of miles apart.Īnd that prompted a prickly question: After a sweeping search for the wealthy risktaker ended, who should foot the bill?
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