Deloitte: Metaverse Could Add $1.4 Trillion a Year to Asia's GDP

Metaverse May Add $1.4 Trillion Annually to Asia’s GDP – Metaverse Bitcoin News

Deloitte estimates that the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. Noting that the metaverse market could reach $13 trillion by 2030, the global financial services firm said: “The metaverse is no longer science fiction.” Early metaverse platforms are already being used by millions.”

Deloitte Metaverse Study

A new report by Deloitte, “The Metaverse in Asia: Strategies to Accelerate Economic Impact,” estimates that the metaverse represents a trillion-dollar opportunity in Asia. The study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, Mainland China, Pakistan, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

The Deloitte report states:

We estimate that the impact of the metaverse on GDP in Asia could be in the range of US$0.8 trillion-$1.4 trillion per year by 2035, approximately 1.3-2.4% of GDP per year by 2035.

“The metaverse presents a trillion-dollar opportunity to dramatically transform key economies in the region… and vice versa, Asian economies will make a measurable impact on how the metaverse shapes globally,” Deloitte described, noting that “the development trajectory of this emerging technology event is still uncertain.” Confirmed.

The financial services firm explained: “The metaverse is no longer science fiction. Early metaverse platforms are already being used by millions… In Asia, many consumers are already playing games, socializing, attending concerts and buying items on virtual platforms like Roblox, Decentraland, and… Fortnite, Sandbox, and Zepeto for Asia.”

More details on the Deloitte report:

Estimates of the potential GDP impact of global metaverses range from $1.5 trillion annually by 2030 and $3 trillion annually by 2031.

CNBC quoted Dolisha Colasoria, Managing Director of Deloitte’s Edge Southeast Asia, as saying, “If you look at young people…they are the ones who interact and engage in the metaverse mostly today, and 60% of the world’s youth live in Asia.”

The managing director added: “The metaverse is inevitable. Developing technology stacks, human capital, and regulatory frameworks to realize Asia’s trillion-dollar potential will benefit a wide range of industries and economic activities.”

Emphasizing that the “potential growth and contribution of Metaverses could be significant globally,” the report continues:

Estimates of the potential global metaverse market size (i.e., revenue) range from US$678.8 billion… to US$13 trillion… annually by 2030.

The $678.8 billion came from Grand View Research while the $13 trillion estimate came from City Collection. while, Goldman Sachs He sees the metaverse as an 8 trillion dollar opportunity and Mackenzie It is believed that the metaverse could generate $5 trillion by 2030.

What do you think of Deloitte’s metaverse estimates? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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