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What advances in physics are necessary? I understand it to be an engineering, economics and political question.

Well, if you want to colonized planets in other solar systems, FTL travel or Cryonics technology might be necessary.

People willing to breed and die during the trip would work too. At which point it's a pure engineering challenge, albeit a hard one...

Sending humans to outside the solar system doesn't mean they have to be the same humans that departed.

But then the question becomes what generation +1 wants?

This is probably going to be nearly as big a problem as the engineering one.