Call me a pessimist, but while a few years ago i would've said space travel was likely, with the current international situation where those making major decisions are governments motivated by equal parts paranoyer and keeping the mega corperations happy, i don't see space travel as a possibility, however technically viable it is.
As has been said, it's a huge investement and the capitalist fatcats won't invest without getting something back.
don't forget all the major strides made back in the 60's ad 70's basically came down to the us and ussr one upping each oher, ---- oooh, so russia hs the first man orbit the planet eh? well lets put someone on the moon, ---- that'll sho'em!
Unless there is either A, an overriding capitalist concern to setup a perminant pressence on other worlds, or B, an iternational cooperation for purposes such as colonization, I don't see things progressing.
that being said, I'm fairly certain the international and economi situation we currently have is not really a tennable one, and if something does not change we'll see either a major war, or or a serious crash in the next 15-20 years, and after such a crash pressures will be different and then space travel will be a more viaable option.
In a timeline I created for a story I'm in the process of writing, I have a large crash occurring in 2021, after which point a more cooperative body is setup, not to replace international governments or coorperate power, but simply to act as a general overall watchdog, and this then causes the establishment of a small luna settlement in the mid 21st century sinse it is under the auspis of the uniting body who have the power to enforce various groups to provide funding for it.
Admittedly this then falls apart when the world is invaded by aliens in 2089, which also causes a return to factonalism and a generally nasty period after lasting for the next couple of hundred years, but up until that point things were going relatively well ;D.
Btw, on the orbit angle, one idea I've always liked, though it would require huge amounts of cooperative work, is Fredrich pohl's suggestion of launch loops, effectively very large roler coster type affairs that basically slingshot capsules into orbit, using momentum to build up speed and reduce the need for solid rockit fuel.
After reaching orbit capsules were then picked up and taken where they needed to go.
On another tack, actually a far more likely possibility I see before space travel is more exploitation of the seabed, sinse we know what'sdown tere, there's lots of room and lots of untapped resources, and the cost would be far less, ----- heck, even now the sea is drilled for oil.
With our dreaming and singing, Ceaseless and sorrowless we! The glory about us clinging Of the glorious futures we see,
Our souls with high music ringing; O men! It must ever be
That we dwell in our dreaming and singing, A little apart from ye. (Arthur O'Shaughnessy 1873.)