The Metaverse is pushing boundaries and driving innovation across a broad spectrum of domains. With its limitless potential, the Metaverse is ushering in a new era of human interactions in sectors like entertainment and gaming. One area where the Metaverse is deemed to have a large impact is travel. Metaverse-based travel will be a totally different concept for the industry, drastically changing the experience for travellers.
- Why Metaverse Matters To The Businesses?
- Use Cases of Metaverse : Gaming
- Use Cases of Metaverse: Entertainment & Social Media
- Use Cases of Metaverse: Fitness
- Use Cases of Metaverse: Education
- Use Cases of Metaverse : Corporates
- Use Cases of Metaverse: Automotive
- Use Cases of Metaverse: Design, Architecture & Engineering
- Use Cases of Metaverse: Real Estate & Construction
- Use Cases of Metaverse: Travel, Hospitality & Tourism (this article)
- Use Cases of Metaverse: Fashion & Apparel
- Use Cases of Metaverse: Medical & Health
- Use Cases of Metaverse: Banking & Finance
The metaverse market in the travel and tourism industry is expected to witness a huge growth, majorly due to the increasing demand for AR and VR technology. Their adoption has increased significantly worldwide over the last decade with AR widely being adopted to provide metaverse travel and tourism solutions like developing interactive hotel elements. Other solutions like VR tours, digital avatars provide customers with the details about the property and make them aware of the facilities offered to them. Similarly, VR offers unique experiences to consumers in education, entertainment, commerce, and service industries.
Although in the nascent stage, the Metaverse market in travel is seen growing at a CAGR of 26.01%. If the statistics are to be believed, the timeline from the year 2021 to 2026 is expected to have an incremental growth of $188.24 billion.
On the face of it, one may think that the metaverse could pose a huge threat to the travel and tourism industry. If people can experience new places in virtual 3D space, they might not choose to travel physically. Yet, the odds are very less that the metaverse could ever completely replace physical travel and become only a part of travel technology.
Benefits of tying metaverse & travel together
If one believes in the potential of metaverse, its pros in the travel industry come from its power to enhance pre, post, and in-trip purchase experiences.
For example, it can help take the booking experience a notch higher by letting the OTAs and hotels provide detailed information to travellers through descriptions, images, and videos.
When it comes to travel agents, they can also make their prospects experience the location they consider traveling to. On the other side, hotels can offer realistic tours of their properties to show potential guests what awaits them if they choose them over other hotels.
Downside of tying metaverse & travel together
The only disadvantage of metaverse in the travel industry is that it can never replace the real travel experience because of its characteristic of being limited to visual and audio cues.
Needless to say, metaverse is the best way to keep potential customers informed about the offer, many things can’t be communicated through the metaverse – that unique feel of exploring the hues of nature and the cultural heritage.
How Can Metaverse Reshape Travel & Tourism?
Here are some of they key benefits & use cases in which travel and tourism can highly impact from the metaverse:
- Virtual Tours: Metaverse technology allows for the creation of virtual tours that enable travellers to explore destinations and attractions in a fully immersive way. This can help travellers get a better understanding of a destination, its culture and attractions, which can influence their decision-making process.
- Interactive Guides: Metaverse technology can be used to create interactive guides that provide travelers with real-time information about destinations, attractions, and events. This can help travelers plan their itinerary and make informed decisions about what to see and do.
- Virtual Events: Metaverse technology can enable the creation of virtual events that can be accessed from anywhere in the world. This can help tourism businesses and organizations to reach a wider audience and generate interest in their destinations, attractions, and events.
- Online Bookings: Metaverse technology can be used to create online booking systems that allow travelers to make reservations and payments in a secure and convenient way. This can help streamline the booking process, reduce costs, and improve the customer experience.
- Virtual Reality Advertising: Metaverse technology can enable the creation of immersive and interactive advertising campaigns that engage travelers and create brand awareness. This can help tourism businesses and organizations to stand out from the competition and attract more customers.
- Virtual Meetings and Conferences: Metaverse technology can be used to host virtual meetings and conferences, which can save time and money for businesses and attendees. It can also allow participants from all over the world to attend without having to travel, reducing the carbon footprint of the event.
- Traveler Education: Metaverse technology can be used to educate travelers about sustainability, culture, and other important issues related to travel. This can help promote responsible travel and support the local economy.
- Augmented Reality Wayfinding: Metaverse technology can use augmented reality to create wayfinding solutions that help travelers navigate complex environments such as airports, train stations, and tourist attractions. By overlaying directions and information onto the real-world environment, travelers can easily find their way around without getting lost.
- Gamification: Metaverse technology can incorporate gamification to create engaging and interactive experiences for travelers. For example, travelers can complete challenges or quests in virtual environments to earn rewards or discounts on travel services.
- Personalized Experiences: Metaverse technology can enable travel businesses to provide personalized experiences to individual travelers. By collecting data on traveler preferences and behavior, businesses can tailor recommendations and offers to each individual, creating a more personalized and enjoyable travel experience.
- Virtual Concierge: Metaverse technology can enable the creation of virtual concierge services that provide travelers with assistance and recommendations throughout their trip. This can include virtual chatbots, personalized travel guides, and real-time support.
- Historical and Cultural Preservation: Metaverse technology can be used to preserve historical and cultural sites that are at risk of being lost or damaged. By creating digital replicas of these sites, travelers can experience them in a virtual environment and learn about their history and significance.
Is Metaverse the Future of the Travel & Tourism Industry?
The metaverse technology has the potential to transform the travel and tourism industry by providing new and innovative ways for travelers to plan, book, and experience their trips. From virtual tours to historical preservation, the possibilities are endless. These immersive experiences breaks down barriers and visitors no longer have to be limited by constraints while intending to experience new things.
Overall, metaverse technology is able to enhance travel and tourism by assisting travelers while also improving the sustainability of the industry.