Metaverse could add up to $1.4tn a year to Asia’s GDP
The metaverse could contribute between S$0.8tn and $1.4tn per year to Asia’s GDP by 2035 if investments in the technology are sustained in the next five to 10 years, according to new research by Deloitte. The metaverse in Asia – strategies for accelerating economic impact, Deloitte noted that awareness of the metaverse in Asia is high.
Still, Deloitte noted that the metaverse will have a transformational impact on Asian economies but whether it will realise its full potential will depend on a wide set of socioeconomic factors and enablers that will vary across markets. Asia is an interesting region to watch for metaverse developments. It dominates the hardware supply chain, and countries like South Korea have already developed a blueprint to foster its metaverse industry.
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