Dear Members and Readers,
As we say goodbye to another year it is always a nice time for reflection on the good, the bad and the ugly within our sector. We are excited to be on this journey towards the future with you. Although there has been unprecedented challenges, from climate woes to natural disasters to wars that have left us feeling more disconnected than ever we would like to take a few minutes to focus on the positives. 2024 should be the year the world reunites, rejoicing in all of the progress that we have made and all of the innovations that are currently in progress.
The future is filled with wondrous opportunities. With combined enthusiasm we can re-imagine the possibilities for the tourism sector and use advanced technology in the Metaverse to create an inclusive future for all to enjoy.
Next year we would like everyone to picture the future of travel. Instead of merely planning your next getaway why not consider a ‘try before you buy’ option and experience a virtual tour. Explore the wonders of the world from the comfort of your living room. The metaverse using AR and VR technology is set to revolutionize how we see the world.
One of the standout trends in this metamorphosis of travel is the rise of virtual and augmented reality as potent tools for exploration. The global virtual tourism market is projected to soar to over $847 billion by 2028, opening up new frontiers for even those cannot physically travel or those with VISA restrictions. Everyone can now embark on journeys of discovery through immersive experiences, gaining a sneak peek into the beauty and allure of destinations before ever setting foot in them. Singapore tourism board and Korea are ahead of the curve here, breathing life into historical attractions and redefining the boundaries of storytelling.
Beyond the allure of virtual exploration, another trend has caught the industry’s attention — the ascent of digital payments. With non-cash transactions projected to skyrocket to $2.3 trillion by 2027, the landscape of financial transactions is undergoing a seismic shift. According to Skift Research, 70% of hotels worldwide have embraced payment processing programs, recognizing the untapped potential for revenue generation in this realm.
In the year ahead, as we explore the various landscapes of the Metaverse, let us reflect on the needs of younger generations to provide a sustainable, more inclusive future travel sector. The metaverse is not merely a platform for escapism; it is a gateway to a borderless future where experiences transcend the confines of physical space.
We look forward to working closely with all of our members and partners to dive deeper into the new hybrid future of travel. Please feel free to reach out and join us on this road of discovery.
Here’s to a future where our journeys are not defined by miles but by the boundless realms of imagination.
Wishing you a very Merry Christmas and a fantastic year ahead.
Warm regards,
Lisa
Lisa Gibbons
Founder/President, Metaverse Tourism Association
