• News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home Articles

The Outstanding Opportunities of Metaverse Tourism

2 November 2022
in Articles, Metaverses, Research
Reading Time: 8 mins read
102 7
The Outstanding Opportunities of Metaverse Tourism

Contents

  • What is the Metaverse?
  • What Is the Difference Between the Metaverse and Virtual Reality?
  • An Overview of the Tourism Industry
  • Can Tourism and Technology Co-exist?
  • How Does the Metaverse Impact the Tourism Industry?
    • Virtual Theme Parks
    • Interactive Reservation Systems
    • Video Game Tourism
    • Immersive 3D Hotels
    • Metaverse Airlines
  • Examples of Metaverse Tourism
    • Tourism NFTs
    • Online Trade Shows
    • Virtual Theme Parks
    • Augmented Reality
  • In Conclusion,

The Metaverse tourism industry is expected to grow by $188.24 billion by 2026. The concept of metaverse tourism has been around since the 1990s and is becoming more popular as technology advances. As a result, it is opening up several new opportunities for tourism-related businesses. 

AR and VR technology advancements, 5G deployment, the introduction of digital assets, and increased internet penetration in the metaverse are propelling the market. The tourism industry is embracing the metaverse for two significant reasons; increased booking volume and more immersive experiences. 

Furthermore, increased mergers and acquisitions in the travel industry, as well as investments in startups, have increased demand for the metaverse. All of this is heavily reliant on global market conditions, current trends, and market analysis. This enables organizations to strategize and capitalize on potential opportunities. 

This article explores the various opportunities offered by the metaverse tourism industry.

What is the Metaverse?

The term “metaverse“ refers to the creation of virtual worlds primarily focused on social interactions. This can be accomplished in a variety of ways, including virtual reality experiences that immerse users in a digitally changing environment, augmented reality overlays in the real world, and even video games. 

In the tourism industry, the metaverse is typically linked with users having control over a digital avatar, which is then used to converse with other metaverse community members. Aside from its social aspects, businesses are exploring how the metaverse can be used to reach customers no matter where they are. 

As a result, the metaverse is regarded as one of the most recent tourism trends. As more metaverse travel and tourism alternatives emerge and user adoption increases, the metaverse is expected to play a larger role in the tourist industry, improving communication and the customer or visitor experience. 

What Is the Difference Between the Metaverse and Virtual Reality?

The metaverse (in the tourism industry) refers to the development of an interactive virtual environment. Virtual reality is a part of this, but it is not essential. 

Augmented reality and other related technologies can be used to create and explore interactive virtual worlds, video games, and interactive video content. To better understand this distinction, consider the metaverse to be a portal through which metaverse tourists can access a variety of options.

An Overview of the Tourism Industry

Tourism refers to any activity that requires humans to relocate temporarily to locations other than their usual residence. Tourism is one of the world’s largest industries, and it is vital to the economies of many countries. 

It is also a massive industry that includes hotel operations, transportation, and a variety of other industries or sectors. It is vital to understand that the tourism industry is dependent on individuals visiting various locations for several reasons, including pleasure, business, and other purposes. 

Tourism excludes the activities of visitors who plan to stay in a travel destination for more than a year. This means that expatriates and long-term international students are not classified as tourists. 

Can Tourism and Technology Co-exist?

There is a definite correlation between tourism development and technological advancement. Indeed, technology has always been used to generate new practices in tourism (from computerized booking centres in the 1970s to the domestication of the internet in the late 1990s). 

The metaverse is a component of the internet’s evolution, which employs increasingly immersive technologies to create phygital experiences (which blur the line between the real and virtual worlds). 

The global pandemic has also resulted in several organizations increasing and sustaining their use of technical tools to provide virtual reality tours, whether for museums, national parks, or heritage sites. 

In addition to exploring World Heritage cultural sites, the Fly Over Zone app shows users what destroyed sites would have looked like in their original state. 

Amazon has launched “Amazon Explore,” which allows users to travel the world virtually. This feature offers a live-streaming interactive service that claims to allow people to discover new places from their computers. 

Asia is a tourism powerhouse. One of Asia’s most successful metaverse tourism projects is MoyaLand, a virtual tourism realm with a tourist office, museums, an airport, and a historical centre where people can roam around using their avatars. 

How Does the Metaverse Impact the Tourism Industry?

The following are some of the opportunities the metaverse offers in the tourism industry.

Virtual Theme Parks

One of the primary means by which the metaverse tourism industry has thrived is the establishment of virtual theme parks, zoos, museums, and other such attractions. 

Customers will have a more authentic experience because they will be able to enjoy anything that resembles a real-life event. 

However, it may also provide significant benefits to enterprises.

A virtual theme park, for example, is not constrained by the same stringent safety regulations that apply to real-world theme parks. 

Also, a virtual zoo does not necessitate purchasing and caring for live animals. A virtual zoo may contain animals from both living and extinct species. 

Interactive Reservation Systems

Metaverse tourism solutions have the potential to significantly improve booking procedures by supplying critical data that cannot be accurately presented in other ways. This increases the likelihood that a customer will complete the booking process rather than cancel it. 

Customers will appreciate the ease with which they can make arrangements for flights or motels.

Instead of filling out complicated forms or interacting with bots, the user will book a flight, tour package, or hotel stay through an immersive experience. Both the client and the company can create avatars. 

Video Game Tourism

Metaverse tourism plays a key role in motivating travelers. For example, interactive virtual reality experiences can accurately show tourists what to expect when they visit a particular place. 

In the future, a tourism board will spend more money generating metaverse content inspired by video games than marketing brochures.  

For example, visitors can virtually interact with the penguins of Antarctica using VR headsets. Travel agencies can use this as a pre-sale demonstration to promote actual trips to England or Antarctica. The VR experience can be purchased separately, giving agencies a new revenue stream. 

Immersive 3D Hotels

The metaverse will change the game for hotels by allowing sales teams to generate more revenue. A sale will take less time to complete with smarter platforms. This is especially true for hotels that make their money by renting out meeting rooms and function halls, which in today’s world require decision-makers to physically visit the hotel. 

Popular hotel brands that have entered the sector include Movenpick, Atlantis, Marriott, and Anantara. 

They are collaborating with RendezVerse and other metaverse content producers to create an electronic and three-dimensional replica of the platform. 

Metaverse Airlines

Airlines such as Singapore Airlines, Emirates, Lufthansa, Qantas, and Qatar Airways are investing millions of dollars in metaverse experiences due to the high return on investment. 

For example, in the metaverse, airlines award loyalty points to passengers who visit their digital environment and use amenities such as lounges and online shops. When users accumulate enough points, they can trade them for real-world benefits such as free flights and cabin upgrades. 

The airlines then profit from the points by selling them to a third party, such as a credit card company. 

Passengers, airlines, and credit card companies all benefit.

Examples of Metaverse Tourism

Tourism NFTs

Several corporations, including McDonald’s, have leveraged the power of non-fungible tokens (NFTs) to improve their marketing tactics. NFTs are an essential component of the metaverse, and branding NFTs may increase client participation. Marriott Bonvoy is one of the most impressive tourism NFTs, as evidenced by the three NFTs displayed at Art Basel Miami Beach 2021. 

Online Trade Shows

The COVID-19 pandemic adversely affected trade shows, expos, and other similar events, forcing them to move online.

These digital gatherings can be taken to the next level by utilizing metaverse tourism solutions. 

Events can be moved online, and the same types of social interactions that can occur in person can be replicated using virtual reality (VR), avatars, or other means. 

Virtual Theme Parks

Virtual attractions such as amusement parks, museums, and zoos play a major role in the rise of the virtual tourism industry in the metaverse. Virtual tourism allows customers to have an experience that is similar to what they would have in a real-life situation.

Virtual tourism has the potential to offer significant benefits to companies. For instance, a digital amusement park is not required to adhere to the same safety standards as a physical one. Also, a virtual zoo can have any number of animals, real or fictional, and it doesn’t need to buy or care for any real animals. 

Augmented Reality

Augmented reality offers many benefits in the metaverse tourism sector. For example, augmented reality apps on a smartphone could aid in learning more about real-world places and their surroundings. 

The application of augmented reality in metaverse tourism would encourage the development of AR-based tourist attractions and interactive hotel components. Augmented reality in metaverse tourism relies on beacon technology to deliver useful real-time push messages. 

In Conclusion,

  • Metaverse tourism and tourism technology are transforming the relationship between businesses and their customers by eliminating physical distances and providing new experiences. 
  • The metaverse concept, in particular, has the potential to inspire customers and deliver critical information that is likely to increase bookings.
  • Customers can reap the benefits of metaverse tourism by participating in a new and more engaging type of virtual tourism. Also, hotels and other businesses in the hospitality industry, such as event planners, can use the metaverse to improve the efficiency of their operations. 
  • The metaverse is also an excellent platform for enhancing tourism activities and marketing initiatives.

 

If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Previous Post

Asset Tokenization: A Top Use Case of Blockchain in Finance

Next Post

DAO Governance 101: The Ultimate Guide to DAO Governance Models

Adedamola Ojedokun

Adedamola Ojedokun

Related Posts

Token Terminal: The New Powerhouse for Blockchain Financial Analysis
Articles

Token Terminal: The New Powerhouse for Blockchain Financial Analysis

28 September 2023

As the Total Value Locked (TVL) in DeFi continues to rise, a growing number of on-chain analytical systems are now available to provide valuable data to blockchain investors. While these systems promise to offer insights, it can be challenging...

How To Attain Cryptocurrency Investment Literacy
Articles

How To Attain Cryptocurrency Investment Literacy

28 September 2023

Many cryptocurrency investors today make investment decisions without an adequate understanding of the market. Despite the surging popularity of cryptocurrencies, a persistent fog of confusion, fear, and uncertainty still hangs over the industry. This pervasive lack of knowledge not...

DEX Review: A Complete Overview of Kine Protocol
Articles

DEX Review: A Complete Overview of Kine Protocol

27 September 2023

In recent years, Decentralized Exchanges (DEXs) have experienced significant growth due to their ability to provide users with a high level of security and freedom.  The collapse of FTX, one of the largest centralized cryptocurrency exchanges in the world,...

Market Makers in Crypto Trading: The Good, The Bad, and The Ugly
Articles

Market Makers in Crypto Trading: The Good, The Bad, and The Ugly

27 September 2023

The cryptocurrency market has grown significantly since its inception, now valued at a staggering $1.09 trillion. This is quite remarkable, especially since we're currently in a prolonged bear market. At the heart of this market are market makers, essential...

Swap Crypto

Markets Update

PayPal USD Stablecoin: A Win For Ethereum Or A Return to Centralization?

2 months ago

Worldcoin (WLD) Price Surges on Launch, But Privacy Concerns Issues Cast Doubts

2 months ago

XRP Skyrockets as Ripple Scores Partial Victory In SEC Battle; What Next for US Crypto Regulation?

2 months ago

Bitcoin May Be on a Bullish Trend As Price Approaches the $26,800 Key Support Level

4 months ago

DOGE Hits $10B Market Cap; Community Criticizes New Twitter CEO Appointment

4 months ago

NFT Market in Q1 2023: A Tale of Strong Starts, Mixed Performances, and Shifting Market Dynamics

5 months ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

Gora Network Launches Testnet on Arbitrum

Gora Network Launches Testnet on Arbitrum

byGuest Author
13 August 2023
0

...

Blockswap to Host Multichain ERC20 Side Event at ETHCC

Blockswap to Host Multichain ERC20 Side Event at ETHCC

byGuest Author
8 July 2023
0

...

Goracle’s $GORA Initial DEX Offering Is Live on DeFi planet

Goracle’s $GORA Initial DEX Offering Is Live!

byGuest Author
28 June 2023
0

...

BitMEX Introduces a New PnL Realisation Feature for More Capital-Efficient Cross-Margining

BitMEX Introduces a New PnL Realization Feature

byGuest Author
13 April 2023
0

...

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities, Aims to Adapt Swiftly in an Evolving Landscape

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

byGuest Author
13 April 2023
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2023 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00