As humans strive to teleport from one place to another in a blink of an eye. Human beings want to develop revolutionary technologies that can fulfill the distance gap of one place to another. Metaverses with travel industry offer realistic experiences that make people feel as if they are in a different dimension or location.
So, with the metaverse’s travel technology, you will not be able to completely teleport from one place to another. However, you will be able to explore new locations within the comfort of your home.
Traveling with the metaverse will reshape the future of the entire tourism industry. You need to create your avatar in the metaverse to experience innovative changes and virtual spaces within the tech environment.
Thus, check out this article to become familiar with all crucial elements related to factors that can reshape the future of the travel industry:
Image source: Gartner
In the last decade, the global IT market has witnessed increased engagement of audiences towards digital platforms. COVID-19 unlocks the gateway for new market entrants to take part in digital transformation.
Similarly, Metaverse is also a new gateway to the IT world. The word “META” gain global popularity when the CEO. Mark Zuckerberg changed the name of its billion-dollar corporation to “Meta”.
Apart from this, it is forecasted that the metaverse market size will be going to increase with a CAGR rate of 43.7% during the time period of 2021 to 2030. It is also forecasted that the metaverse will cross the market value of more than $600 billion.
Metaverse is a digital extension of virtual reality – not a replacement for virtual reality
Metaverse works through a shared virtual space platform. In the Metaverse, people from all over the globe can interact with others. Not only this, people can conduct tourism activities and they can even take a glimpse of the past era (historic travel). It will allow an individual user to experience digital alterations that cannot be conducted alone in Virtual Reality – such as:
- Purchase of real estate properties with NFT into the Metaverse.
- Virtual meetings.
- Living in a virtual world.
VR technology will be going to play a major role in the development of the Metaverse universe.
Many people on social media consider the Metaverse as a replacement for VR technology. However, according to experts VR technology will be crucial for the Metaverse for the creation of a virtual environment.
6 Major Tourism Areas Impacted By the Metaverse
Below are 6 major changes that will be conducted in the travel industry within the virtual universe:
1. New dimensions into destination-based window shopping:
Suppose, your group members want to map out a plan for a reunion. You all contenders three destinations – New York, Rome and Dubai. However, you all are confused that which place will be suitable for you to travel.
In such a situation, Metaverse is the perfect solution because you can visit all these locations within the metaverse. Once you visit these locations then you can decide about the specific place you want to physically visit in the future.
Now, you may ask that instead of the metaverse, anyone can see the photos/videos of the location. In reality, photos/videos are not able to give an experience of virtual space similar to the metaverse.
Without any doubt, it is a fact that the traveling industry will be going to experience a great leap. This industry will need to adapt its operations to the changing market demand:
Get ready to experience destination-enabled window shopping and decide whether this destination is worth for you to travel or not? Not only this, you can easily compare different destinations or even compare the views of different hotels through the metaverse.
2. Historical Travel:
Do you want to travel to an era when currency notes were not required and all the transactions used to be conducted through the barter system? You will probably answer “yes”.
With the technological advancement in the metaverse, you can virtually travel in the historic era. Once the historic travel work will start then it will fascinate audiences at a massive level in an effective way.
- A new line of tourism services will be started in the travel industry.
- This segment (historic travel) will also positively impact educational tourism. For example: it is a fact that the human subconscious mind is able to retain images more effectively than retaining words. So, it incorporates the high potential that historic tourism will be going to become a crucial part of the educational sector to teach children about important insights into history.
- Currently, there are millions of views on the “YouTube” channel that are related to the history subject. For example: “History-Channel on YouTube” is a popular channel that incorporates around 3,594,917,762 views (as of January 2023).
- This data showcase that people admire and prefer to spend their time knowing important facts of history.
3. Metaverse Tourism:
Metaverse tourism is embracing the creation of a virtual world based on real-time effects and augmented reality-enabled functions. In the travel industry, the concept of digital avatars will emerge with the help of the metaverse’s advanced functions.
- Metaverse will act as a bridge for reducing the physical distance between one location to another,
- It runs through 3D virtual spaces and humans can experience imaginary scenes that are not present in the real world.
- Metaverse will continue to emerge and it will also increase the user adoption rate in an effective way.
Metaverse market revenue is estimated to cross $678.8billion by the year 2030.
4. Virtually walk through the entire hotel & cruise:
Each guest has their own preferences when it comes to hotel views. Some may like the property with mountain views while some may prefer rooms near beaches and so on.
Experience a 360° view of the hotels and cruises before finalizing it for your next vacation. Many experts believe that the metaverse will be a crucial part of travel and tourism solutions.
As far as cruise stays are concerned, then every cruise stay is entirely unique and incorporates a different layout of standards. Some cruises demand that they can offer luxury stays while some demand that they also incorporate budgeted options.
Proper utilization of the metaverse and AR technology will help in providing real-time options to the users so that they can take their decision regarding the hotel property, views and many more.
5. Online Trade Shows and Expos:
The market of online trade shows and expos will not be left unaffected by the rise of metaverse technology. In the future, it can be forecasted that all the online trade shows and expos can be attended by audiences within the comfort of their home. The rise in online trade will also positively impact the rise of the travel app development market.
So, one thing is certain – the audience viewership of trade shows will be going to be enhanced by at least 10 to 20 times (hypothetical figure) with the metaverse in the travel industry.
I think people will still prefer to attend live trade shows by physically going there because of the feeling and vibes that an individual can only be experienced showcasing a physical presence at the event.
6. Virtual Theme Parks:
VR theme parks will enhance the entire virtual reality technology. Now, people can experience a unique and thrilling experience in the tourism industry. The rise of the metaverse will be going to promote a trend in which people can attend all the events within the comfort of their homes. New travel and tourism solutions will emerge through the engagement of the metaverse.
The Final Words
The metaverse will surely open the gateway for new dimensions in the entire travel industry. Metaverse in travel industry will be going to develop new pathways for different traveling segments – such as: virtual theme parks, online trade shows, metaverse tourism and many more.
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