Out of the first contact with Native Americans; Europeans gained an immense amount of knowledge. When Europeans met the Native Americans though, they met a technologically inferior civilization, so just imagine if we made contact with a more advanced alien species. A meeting such as this would advance our technology far past what we could accomplish otherwise. The potential effects of contact with an alien civilization are infinite, but even today, we can see and use the effects of the Space Race in our lives today.
Everyday items such our water filters, eye or sunglasses, and even the gel insoles in our shoes have been derived from NASA innovations that were used to aid astronauts in their journeys. It would be very hard to imagine what life would be like without our phones, so we can also thank NASA for that since the satellites that are in orbit can be there thanks to NASA and its research on space conditions. Almost all the items we use today have in some way, shape, or form can trace its roots back to the Space Race of the 1960's. The best part about space tech though, is that it is young. It has only been 50 years and technology has come this far. Imagine how much farther our gadgets can go in the next 50. There could be an Iron Man suit and lightsaber in every home for all we know. The technological possibilities that stem from space exploration are endless, which is why it is important to continue the exploration of space. Perhaps the most important reason to continue space exploration however, is one that we will not be able to stop, no matter how advanced our technology becomes.
One inevitable fact about Earth is that it's time will come to an end, whether it's caused by us, or some other natural disaster such as a meteor like the one that killed of the dinosaurs or even the sun as it nears the end of its lifespan. When that time comes, if mankind is not inhabiting another world already, not only will it be the end of our home world, but also the end of us.