The Metaverse and the Travel Industry: Why Does It Matter?
The Metaverse and the Travel Industry
October 28, 2021, marks the date that Facebook becomes Meta. The name change reflects Facebook's long-term focus on building the Metaverse, a digital extension of physical reality utilizing social media, virtual reality, and augmented reality. The Metaverse is born, and it is in our collective consciousness from now on.
A month after Facebook's announcement, Barbados has signed an agreement with Decentraland to set up a digital embassy in the Metaverse, Coindesk reports. Considering the kind of experience metaverse technology offers, it's evident that it will directly impact all industry sectors.
Today, most travelers use technology to plan a trip or travel experience. The technology enables them to review other people's comments, photos, and videos before making a final decision. Travelers and potential customers will always look into other people's experiences before booking; however, brands can help guide decision-making by leveraging the Metaverse and developing an immersive and differentiated experience. The travel industry is a senses industry; all five senses are stimulated by travel. The Metaverse can be an expanding channel for companies to leverage Sensory Marketing and even cash in on it as a new revenue stream.
We launched the Tourism Innovation Summit for the second time in 2020. It was during the period of Covid-19, and the pandemic significantly impacted the event. Many people who were planning to attend ended up canceling. We came up with the TIS launch boxidea, which involved sending VR Headsets to participants throughout the United States, creating a virtual experience, uploading it to YouTube, and allowing users to experience different parts of Cap-Haitien without having to travel there physically. We also sold some additional tickets for this unique experience; It was nothing like the Metaverse, but it gave us a good idea of how this technology could change our industry.
In what ways do you see your business leveraging the Metaverse? I would love to hear from you.New Paragraph
