Imagine taking a virtual tour of your dream place and experiencing real-time travel from the comfort of your home. Cool isn’t it?
The Metaverse is transforming the way we experience the world by offering a virtual 3D environment that feels like a real-life experience. Over the recent years, with features like cloud computing, AI, and blockchain integration, it has gained popularity among tech enthusiasts, businesses, and travelers alike.
Now, the travel industry is taking notice of the Metaverse’s potential to revolutionize the way we explore places, hotels, events, and more. According to a recent survey by Accenture Technology Vision, a majority of travel industry leaders are exploring the possibilities of the Metaverse, with 53% anticipating a positive impact on their businesses, and 25% expecting a major transformation.
In this article, we will explore the factors behind the increasing popularity of the Metaverse and examine how it is currently impacting the travel industry.
Metaverse technology in the tourism industry
The metaverse came into the limelight during the pandemic and offered people a safer and pocket-friendly option to explore the world.
Although the Metaverse has yet to reveal its full potential in the travel industry, the increasing demand for digital transformation suggests that it could be a game-changer for the sector. According to statistics, the metaverse travel market is projected to grow at a CAGR of 26.01%, with an estimated incremental growth of $188.24 billion between 2021 and 2026.
Let’s now discuss in detail the different ways in which metaverse can benefit the travel industry.
Key benefits of metaverse for the tourism industry
1. Giving virtual tours of hotels –
For some customers, researching every piece of information, review, and photo before making a decision is a must. With the Metaverse, they can take a virtual tour and experience a 360° view of hotels, all from the comfort of their own homes.
Every location, infrastructure, and layout is unique and a virtual tour can provide customers with a wider variety of options to choose from, enhancing their overall experience. By effectively utilizing the Metaverse and AR technology, real-time options can be made available, helping customers make better decisions.
2. Streamlining the booking procedure –
Metaverse can streamline the booking process by providing virtual assistants powered by AI, virtual tours, and simulations that give customers a realistic sense of what they can expect during their travels.
This simplifies the process of finding information and making reservations while improving the overall customer experience.
3. Making historical travel fun –
Metaverse can enhance the experience of historical travel by offering a range of immersive and interactive features. For example, virtual reality (VR) technology can transport users to historical locations, such as ancient ruins or historical landmarks, allowing them to explore and experience these places realistically and engagingly.
Augmented reality (AR) can also be used to superimpose historical information and images onto real-world locations, creating a more engaging and informative experience. Additionally, the metaverse can be used to create interactive exhibits and displays that allow users to learn more about historical events, figures, and cultures.
4. Giving sources for travel ideas –
With metaverse, travelers can explore destinations, inspect accommodations, and plan their vacation according to their budget and preferences.
It is also a great tool for travelers who are seeking new and exciting experiences. They can discover unique activities and events that are off the beaten path, giving them a truly authentic travel experience.
5. Conducting virtual events –
During the pandemic, event companies couldn’t operate due to restrictions on live audiences, resulting in a significant loss of ticket sales and revenue. However, the travel industry’s metaverse can be a game-changer for event companies.
Companies like MetaEvents can use metaverse technology to create digital storefronts, NFTs, and collectibles, while virtual events in the metaverse can provide an immersive and interactive experience that eliminates the need for physical travel to event venues.
With VR technology, attendees can actively participate in events from the comfort of their own homes, making events more accessible and engaging.
Are you ready for the metaverse?
With the rapid growth in technology, we will soon experience a whole new world of travel and tourism through the metaverse.
Looking for a technological partner to transform your travel business using metaverse technology?
Jellyfish Technologies can help you provide advanced solutions and enhance your travel services with AR/VR and blockchain technology.
Get in touch with us and we will help you to achieve your goal in no time.