Travel and tourism in the metaverse - statistics & facts
The metaverse is anticipated to be the next iteration of the internet. It is generally defined as a three-dimensional (3D) immersive version of the internet where people can experience life virtually using extended reality (XR), an umbrella term for all immersive technologies including augmented reality (AR), virtual reality (VR), and mixed reality (MR). In 2022, it was estimated that the size of the global metaverse market was 65.5 billion U.S. dollars. While metaverse technology is still in a developmental stage, travel and tourism companies are looking to invest in this future market. This is shown when looking at the global distribution of different sectors’ investments into the metaverse, where travel and hospitality companies accounted for six percent of investments as of 2022.
