Saudi Press

Saudi Arabia and the world
Tuesday, May 21, 2024

Saudi Arabia Leads the Way in Metaverse Adoption: $7.6 Billion Economic Opportunity by 2030

Saudi Arabia is leading the way in adopting the metaverse, a virtual world using virtual and augmented reality.
This digital space will break down geographical barriers, fostering collaboration and connectivity in various aspects of life, including work, shopping, relaxation, travel, and living.

The metaverse is also projected to become a commercial space for companies and customers.

In the Middle East region, the metaverse has the potential to revitalize and transform key sectors.

A report by management consulting firm strategy& estimates that the metaverse, a 3D digital space, could contribute $15 billion to Gulf Cooperation Council economies by 2030, with Saudi Arabia expected to capture around $7.6 billion.

Saudi Arabia is investing heavily in the metaverse as part of its digital transformation plans, with its $500 billion NEOM project having a metaverse component that is already being used to develop the city and provide opportunities for collaboration among architects, engineers, and designers.

This investment aligns with Saudi Vision 2030's objectives of diversifying the economy and enhancing the quality of life.

The text discusses the anticipated benefits of the metaverse adoption in Saudi Arabia and the wider region.

It highlights how this technology will generate new opportunities for individuals and businesses, and enable more decentralized and open economic activities, leading to increased efficiency across various sectors.
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