According to a new report by the Analysis Group , the metaverse has the potential to add an estimated $3-trillion to the global economy in a decade, but there’s a big “if”: the number is possible if adoption and growth are similar to that of mobile technology. Estimates are that the metaverse could add in Sub-Saharan Africa – 1.8% contribution to regional GDP, or $40 billion
The Analysis Group report, The Potential Global Economic Impact of the Metaverse, was commissioned by Meta, in order to study the potential global economic impact of the metaverse, including regional estimates for Asia Pacific; Canada; Europe; India; Latin America and the Caribbean; the Middle East, North Africa, and Turkey; Sub-Saharan Africa; and the U.S.
While estimates about the economic impact of the metaverse are already part of the public discourse, the report utilises analytical and quantitative methods to further the discussion about how the metaverse can expand economic opportunities.
This finding demonstrates the potential of the metaverse to bring substantial, beneficial economic impacts including contributing to GDP growth, creating jobs, increasing productivity and improving quality of life in developed and developing countries.
However, it should be noted that mobile handsets are regarded as essential tools across the world. The Metaverse, which is essentially a range of virtual reality environments, is seen as a luxury, and usually as entertainment. The projections should therefore be regarded as a hope, rather than a true reflection of what is likely.
For access to the full white paper, including the full estimation methodology in Section IV, visit: analysisgroup.com/metaverse