THE METAVERSE HAS THE POTENTIAL TO TRANSFORM THE TRAVEL INDUSTRY IN NUMEROUS WAYS

“The metaverse represents the next evolution of the internet, where everything that was once 2D will become 3D. This 3D internet, or metaverse, is not intended to replace our physical world, but rather enhance it,” said Emanuel Erdem, Web3 and Metaverse Consultant at Exclusible.

“The metaverse has the potential to transform the travel industry in numerous ways, from virtual travel to enhanced tourism experiences. Virtual replicas of destinations can be created in the metaverse, providing a realistic and accessible virtual travel experience. This would enable people to explore destinations without leaving their homes, making travel more affordable and inclusive. Additionally, virtual travel could also serve as a preview of physical destinations, allowing travellers to assess these places before committing to a physical visit.

“Hotels, resorts and other hospitality establishments could also replicate their properties in the metaverse to attract younger generations and improve the customer experience. This would provide a unique pre-booking experience as well as increase conversion rates.”

Erdem highlighted that experiences offered in the metaverse can provide customers with a unique and immersive way to envision themselves in a travel destination. This can heighten their anticipation and excitement while giving them a better sense of what to expect when they physically visit the location.

“The metaverse can make travel more accessible and affordable for a broader audience, including those who may face financial or mobility barriers to travel. It can also foster cultural exchange and create a sense of connection and community among travellers.”

For businesses, Erdem explained that immersive commerce provides an opportunity for increased user engagement. “Virtual showrooms and immersive spaces increase retention rates over 10 minutes compared to one minute spent on conventional websites. Moreover, products showcased in these virtual environments can see up to a 50 per cent increase in engagement and conversion rates.

“Digital twins of travel and hospitality experiences also offer businesses an opportunity to expand their global reach and enhance the customer experience. Combining these digital twin experiences with immersive commerce elements could further elevate the customer journey.

Erdem also notes that integrating the metaverse into the travel industry can have a positive impact on the environment. “By reducing the need for physical travel, certain trips can be avoided, leading to a reduction in carbon emissions and promoting more sustainable travel practices.”

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