Travel Decisions In 2023 Will Be Influenced By The Metaverse Experience

The Metaverse, one of the newest sub-crypto ecosystems, is expected to assist tourists choose the destinations they want to experience in person as borders free up following protracted COVID-induced travel restrictions, according to a new study performed by Booking.com.

Popular online travel service Booking.com conducted a study of 24,179 respondents in 32 countries, and the results showed that tourists are very interested in digitally experiencing destinations before making vacation plans. Gen Z (45%) and Millennials (43%), out of the group, were most inclined to check out travel experiences in the metaverse.

43% of respondents, or nearly half, said they would utilize virtual reality to guide their decisions. About 4574 of the members in this group think that visiting new areas should only be done after doing so electronically.

Additionally, more than 35% of respondents are willing to spend numerous days in the Metaverse to become familiar with the settings provided by well-known locations. Booking.com claims that enabling technologies like haptic feedback would enhance this experience by enabling consumers to enjoy white sand beaches and warm sun without going outside.

However, 60% of the respondents think that in-person encounters still outweigh what the Metaverse and virtual technologies have to offer. So Paulo (Brazil), Pondicherry (India), Hobart (Australia), and Bolzano are a few of the most well-liked vacation spots for 2023. (Italy).

The US Federal Trade Commission (FTC) attempted to stop the acquisition of Activision Blizzard, which severely hampered tech giant Microsoft’s plans to enter the Metaverse market.

According to Microsoft CEO and Chairman Satya Nadella, the acquisition of Activision Blizzard for $69 billion would have been “critical to the development of metaverse platforms.” The FTC called attention to Microsoft’s anti-competitive tactics, which included restricting console game distribution after it bought competitor gaming firms.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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