Deloitte has estimated that the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. The report was titled “The Metaverse in Asia: Strategies for Accelerating Economic Impact.”
It has been reported that the study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, mainland China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Deloitte’s report stated:
“We estimate that the impact of the metaverse to GDP in Asia could be between US$0.8 trillion – US$1.4 trillion per year by 2035, roughly 1.3-2.4% of overall GDP per year by 2035.”
Deloitte described:
“The metaverse presents a trillion-dollar opportunity to significantly transform major economies in the region … Vice versa, the Asian economies will make a meaningful impact on how the metaverse takes shape globally.”
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 gaming, socializing, attending concerts, and purchasing items on virtual platforms such as Roblox, Decentraland, Fortnite, and Asia’s very own Sandbox and Zepeto.”
Duleesha Kulasooriya, the Managing Director of Deloitte in Southeast Asia, said:
“If you look at the youths … they’re the ones who are interacting and engaging in the metaverse mostly today, and 60% of the world’s youths live in Asia.”
He added:
“The metaverse is inevitable. Developing the technology stacks, human capital, and regulatory frameworks to realize Asia’s trillion-dollar metaverse potential will benefit a wide range of industries and economic activities.”
Thus, the $678.8 billion came from Grand View Research while the $13 trillion estimate came from Citi Group. Meanwhile, Goldman Sachs sees the metaverse as an $8 trillion opportunity and McKinsey believes the metaverse could generate $5 trillion by 2030.
Source: Bitcoin News