The pandemic completely turned the world around; there was a complete social and economic collapse. Every sector in the world suffered greatly.
Tourism was the worst hit; it reached a literal standstill, with no movement allowed anywhere, and people were forced to stay home.
Despite the brutality of the pandemic, this crisis provided us with a chance to reconsider how tourism interacts with our societies, other economic sectors, and our natural resources and ecosystems; to measure and manage it more effectively; to ensure a fair distribution of its benefits, and to advance the transition towards a carbon-neutral and resilient tourism economy.
In light of the metaverse's promise, there is reason to be upbeat about travel and hospitality. (1)
Several travel companies are already using virtual and augmented reality to distinguish their offerings, emphasize their status as high-quality service providers, and stay one step ahead of the competition.
Travel experiences will surely be improved in various ways by virtual travel, even though it is unlikely that it will replace actual travel in the metaverse hospitality sector.
The importance of tourism
The success of many economies throughout the world depends on tourism.
A country's infrastructure is developed, its revenue is increased, and a sense of cultural interaction between locals and visitors has been cultivated thanks to tourism.
Tourism develops into a practice that creates the foundation for widespread consumption, which has far-reaching advantages.
As activity with broad-reaching positive effects on society, the economy, and industries, tourism is becoming increasingly significant for a nation's overall growth, development, and progress.
The basis and wide backdrop of the tourism industry, through which the nation as whole gains the majority of advantages and benefits, are also created by the concept of tourism. (2)
In numerous locations, tourism generates a sizable number of jobs. These positions may include the agricultural, communication, health, or educational sectors and the tourism industry. Many tourists come to enjoy the culinary, cultural, and other aspects of the host country.
This also gives a huge boost to the native economy by promoting local activities.
Governments that depend heavily on tourism for revenue make significant investments in the nation's infrastructure.
They need safe and cutting-edge amenities because they want more and more tourists to come to their country. This results in the development of new roads and highways, parks, and public areas, as well as new airports and maybe enhanced schools and hospitals.
Infrastructures that are secure and cutting-edge enable the efficient delivery of products and services. Locals also have the chance to advance their economic and educational status.
Tourism develops into a practice that creates the foundation for widespread consumption, which has far-reaching advantages.
As activity with broad-reaching positive effects on society, the economy, and industries, tourism is becoming increasingly significant for a nation's overall growth, development, and progress.
The basis and wide backdrop of the tourism business, through which the nation gains the majority of advantages and benefits, are also created by the tourism concept. (3)
Why is tourism being introduced into the metaverse?
The tourism industry is one of the largest in the world. It ranks third in export volume (after fuels and chemicals) and made up about 7% of world commerce in 2019.
It is the third largest export industry in the world economy, accounting for nearly 20% of the GDP of some nations.
One of the industries most impacted by the Covid-19 pandemic is tourism, which negatively influences all continents' economies, livelihoods, public services, and possibilities. Every link in its extensive value chain has been impacted.
Considering how the pandemic affected tourism, tourism companies shifted to a more modern, unconventional way to provide travelers with the adventure and experiences they were missing out on.
That’s when they shifted to the metaverse, a concept allowing users to access and experience anything from the comfort of their homes. (4)
How is the metaverse affecting tourism?
Tourism is being wholly revolutionized due to the metaverse. There are many ways that the metaverse will change tourism. Here are a few;
Video game tourism.
One of the main advantages of metaverse tourism is that it might encourage tourists. For instance, interactive virtual reality experiences can accurately depict real-world landscapes and give visitors a solid idea of what to expect when they visit a particular region.
In the future, a tourism board or a travel agency will spend more money creating metaverse material inspired by video games than marketing brochures. By donning a VR headset, a visitor can virtually visit Stonehenge or interact with Antarctica's penguins - both in settings that appear to be real.
Travel agencies can use this as a pre-sale demo to advertise the actual England or Antarctica. Still, the VR experience can also be purchased independently, providing a new way for agencies to make money. (5)
Interactive booking systems
In addition to generating ideas, metaverse travel and tourism solutions may greatly enhance booking processes by supplying crucial data that cannot be accurately presented in other ways. This raises the possibility that a customer will finish their booking process rather than cancel it.
Customers will enjoy making reservations, whether for flights or hotels. The user will be dragged into an immersive experience while ordering a flight, a tour package, or a hotel stay rather than just filling out boring forms or conversing with bots. Both the client and the company can create avatars.
For example, the front desk clerk of a meta version of an Indian hotel would be an avatar wearing traditional Indian clothing and greeting guests with a "Namaste." Additionally, she will answer inquiries during the reservation process and suggest fun locations for visitors to visit while in India.
The 3D immersive hotel
The metaverse will be a game changer for hotels since it will allow sales teams to generate more income. With smarter platforms, it will take less time to complete a sale.
This is especially true for hotels that make a living off of renting out meeting rooms and function halls, which in the modern era necessitates that decision-makers physically visit the hotel.
Famous companies like Marriott, Atlantis, Movenpick, and Anantara have entered the market. They are collaborating with RendezVerse and worked with other metaverse content producers to develop a digital twin: an electronic, three-dimensional reproduction of the place. (6)
Airlines in the metaverse
Airlines like Emirates, Singapore Airlines, Lufthansa, Qatar Airways, and Qantas are spending millions on metaverse experiences because they have such a high return on investment.
For instance, in the metaverse, airlines would reward passengers with loyalty points when they visit their digital environment and use amenities like lounges and online shops. When enough points are accumulated, the consumer can redeem them for real-world benefits like complimentary flights and cabin upgrades.
The airlines then profit from selling these points to a third party, such as a credit card provider. Benefits accrue to passengers, the airline, and the credit card company. Thanks to the metaverse, everything works out well (7)
Virtual amusement parks
One of the main ways that metaverse tourism is flourishing is the creation of virtual theme parks, museums, zoos, and other such attractions. Since they can enjoy anything resembling a real-life event, customers will have a more genuine experience.
However, it might also offer considerable advantages to businesses. For instance, a virtual theme park is not constrained by gravity and is not subject to the same severe safety regulations as a real theme park. A virtual zoo, likewise, does not require organizations
to acquire and care for real animals, and the animals in that zoo may include both existing species and extinct ones.
Hosting international events
Tourism is not only restricted to pleasure; many meetings require people to travel across continents to experience festivals, carnivals, and conventions.
Through the help of the metaverse, one could simply attend these events in the comfort of their own home without traveling long distances.
Metaverse technologies are a specialty of businesses like MetaEvents, which provide customers with digital stores, tickets as NFTs, and digital collectibles. Attendees can network and interact with one another, just like at any live event.
The COVID-19 epidemic negatively impacted trade shows, expos, and related events; as a result, they had to be brought online. These events share many of the same issues that the travel and tourism industry deals with, such as increased public awareness of climate change.
Enhancing the sense of immersion, metaverse travel and tourism technology can help elevate these online events. Events can be transported online, but social interactions that work best in person can also be replicated using avatars, virtual reality, or other techniques. (8)
How influential will the metaverse be? Will it even help the tourism industry?
According to a new Gartner report, by 2026, 25% of individuals will spend an hour per day in the metaverse for work, shopping, education, entertainment, and social purposes. The world's organizations will have metaverse-ready goods and services in about 30% of cases.
The number of daily VR users has doubled since 2018, and it is safe to say that this number will only increase.
With such exponential growth, the metaverse will greatly affect other industries. The industries aligning with the Metaverse early will be at a huge advantage by the decade's end.
The biggest issue the current tourism industry faces is marketing. With the help of the metaverse, a company can easily advertise itself and grow in size.
Virtual tourism can be a lifesaver for elderly and disabled people with restricted mobility. People may go to remote regions without leaving the comfort of their homes, checking off sights they otherwise would not be able to see from their bucket list. (9)
What does the future of metaverse tourism look like?
It will take time for the Metaverse to take off, even though businesses are starting to recognize its potential. In addition, even if the idea were to catch on, it's unclear how people would react, particularly as travelers look for authentic experiences in the wake of the outbreak. Forecasts suggest that the Metaverse has the power to alter travel and tourism fundamentally. (10)
Virtual reality will offer users distinctive, individualized experiences that will improve their travel experiences while facilitating various activities for people physically distant from events or sites.
It's important to remember that the Metaverse won't entirely replace travel and tourism. If used well, this technology can enhance reality by delivering immersive experiences that let people build stronger bonds and make global culture and history more approachable.
In the end, Metaverse is the concept that will aid tourism to get back on its feet, nothing more and nothing less.
