The Convergence of the Metaverse & Virtual Tourism: Exploring A New Era of Travel Experiences

Virtual tourism is a budding trend gradually disrupting the age-old marketing tactics of the tourism (and other related) industries.

According to figures compiled by Statista, the total market size of the global virtual tourism sector was estimated at around $5 billion in 2021. Reflecting this reality, analysts are forecasting considerable growth over the next few years, primarily due to the technological advancements across augmented reality (AR), virtual reality (VR), and 3D modeling. Per estimates, the global virtual tourism sector’s value is projected to surpass $24 billion by the end of 2027.

Although the idea of virtual tourism has been around for quite some time (like Google’s Street View, Google Earth, and The Daily 360 from the New York Times), it gained momentum during the pandemic as hotels, travel destinations, and agencies capitalized on the trend. 

Based on the market data, it is evident that virtual tourism isn’t just another hype bubble. This sector is here to stay and redefine the future of the broader tourism sector.

For example, the recent report from Market Data Forecast indicates that customers aged 18 to 34 years are 130% more likely to book a destination if the service provider offers a virtual tour. Likewise, more than 50% of all adult users rely extensively on virtual tours to make buying decisions, while approximately 67% of respondents want travel-focused businesses to offer more virtual tours.

The Metaverse: State-of-the-Art Infrastructure For Virtual Tourism

As mentioned earlier, the growth of virtual tourism is fueled by the rapid development of new technologies such as VR, AR, and 360-degree video recording, making it possible for people to experience a place before they visit it.

Since these technologies are an integral part of the metaverse, the metaverse and virtual tourism industry are increasingly lining up for a mutually beneficial convergence. 

Considering the fundamentals of the metaverse and the emergence of metaverse-as-a-service (MaaS) providers like MetaMetaverse, it is safe to say that although VR technology has been around for a long time, it’s only recently that it has become affordable and accessible to brands and consumers.

Virtual tourism involves applying technology to allow people to visit places all over the world without actually going there. This can be accomplished through VR headsets, 360-degree videos, or even 3D renderings. By comparison, the metaverse is viewed as an evolution of the internet, where people connect through avatars rather than anonymously through usernames. The metaverse allows virtual characters to appear in real-world locations or to see and interact with other virtual characters located elsewhere.

Do you see the connection here?

Virtual tourism relies on technologies that form the basis of the metaverse. It’s like the metaverse is built to complement the virtual tourism industry. 

Metaverse Tourism: The Logical Evolution of Virtual Tourism

With easy-to-use platforms like the MetaMetaverse, the travel industry can reimagine how consumers experience virtual tours in novel ways. The metaverse offers unlimited scope for travel businesses to balance user experience, interactivity, and gamification. It unlocks features that aren’t readily available in the traditional Web2 ecosystem.

Underlining this reality, travel industry leaders have started considering the possibilities of the metaverse. A recent survey by Accenture Technology Vision highlighted that 53% of travel-focused businesses agree that the metaverse will positively impact their operations, and more than 25% believe that it will result in a major breakthrough.

But here’s the best part: the role of the metaverse in the virtual reality sector isn’t just limited to fun avatars, branded experiences, or blockchain games. It stretches far beyond, especially when generating breakthrough value for stakeholders and consumers alike, including but not limited to multiple new revenue streams.

There is enormous potential in the metaverse, and the options to leverage it is boundless. Take MetaMetaverse’s platform that anyone – even without knowledge of AR, VR, and 3D – can use to build and customize their offerings. Between VR tours, virtual destination travel, hyper-realistic simulations of real-world environments, virtual real-estate development, and novel marketing opportunities, travel businesses and operators can benefit immensely from the metaverse.

Travel businesses can work with MaaS platforms alongside local governments and public authorities to use the metaverse to engage, educate, and raise awareness while simultaneously providing historical experiences and sharing native culture with individuals visiting their metaverses. From a brand perspective, brands that actively engage with the metaverse can provide a more interactive and gamified experience compared to traditional virtual tours, which will directly impact their consumer retention, loyalty, and, ultimately, their revenue.

The scope of metaverse tourism isn’t just limited to travel businesses. Other related sectors, such as the hospitality industry, can benefit immensely. With ready-made solutions like MetaMetaverse, service providers can host virtual concerts, museum tours, conventions, and much more.

In essence, metaverse tourism is the next logical evolution of virtual tourism. It is an especially functional platform for improving firms’ marketing efforts in tourism and hospitality. It will not only allow travel brands to maximize their efficiency but also elevate the experience of consumers by allowing them to indulge in real-world simulations from the comfort of their homes.

On the one hand, customers gain the opportunity to benefit from the advantages of metaverse tourism by partaking in an innovative and more engaging type of virtual tourism. Meanwhile, travel companies, hotels, and other hospitality groups like event planners can leverage the metaverse to increase the efficiency of their operating processes – that too without paying for it with an arm and a leg.

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