Metaverse expected to add $15 billion annually to GCC economies by 2030
The metaverse is projected to contribute about $15 billion to GCC economies annually by 2030, led by Saudi Arabia and the UAE, as governments continue to introduce measures to tap into the potential of the emerging technology, a study from Strategy& showed. The kingdom is expected to account for more than half of the figure, or $7.6 billion. Qatar is next with $1.6 billion, followed by Kuwait ($1 billion), Oman ($800 million) and Bahrain ($400 million). Emirates stands to receive almost a quarter, or $3.3 billion, reflecting the aggressive programmes the Arab world's two biggest economies have in place to leverage the metaverse, Strategy&, a subsidiary of global consultancy PwC, said in a statement on Wednesday.The travel and tourism industry is seen benefiting the most, with an estimated $3.2 billion.
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