The Metaverse Might Contribute $320 Billion to Latam’s GDP in the Next 10 Years – Metaverse Bitcoin News

According to a new study, the metaverse could play a major role in Latam’s economic growth and that of the rest of the world over the next decade. Analysis Group’s study estimates that Latam will benefit from an estimated $320 billion increase, which is approximately 5% of the country’s GDP, over the next 10 year. This is the biggest percentage share of GDP of the regions in the study’s projection.

Analysis Group’s Metaverse Report

It is becoming an increasingly important topic in cryptocurrency and business. Many businesses are already projecting its potential economic impact in various countries and regions in the near future. In a recent report titled “The Potential Global Economic Impact of the Metaverse” issued by international economic consulting firm Analysis Group, the opportunities that the emergence of the metaverse could open in the next ten years are examined, assuming “adoption begins in 2022.”.

Researchers compare the meteoric rise of mobile technology with that of metaverse and analyze the rate at which this new technology is growing. This industry was selected “because of similarities to the metaverse in the way it combined existing and nascent innovations to fundamentally alter global technological and economic landscapes.”

Large Latam GDP Growth and Estimates

The report estimates that the Metaverse and related activities could contribute $320 billion to Latam’s economy in the 10th year following adoption. According to the report, Latam’s growth will be the largest percentage-wise. However, the APAC region is projected to have the highest volume growth, accounting for more than $1 trillion in its GDP.

The study projects that $3.01 trillion will be generated by the metaverse globally, which would make it more than 2 percent of global GDP in ten years. Per the report, this growth will only happen if the sector reaches its expected potential, having “far-reaching applications, with the potential to transform a wide range of economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.”

Another company has also forecasted the impact this new activity could have on different industries and the opportunities that it might present. Grayscale is one of the world’s most respected cryptocurrency asset managers. He estimates that the metaverse will be a potential $1 trillion market opportunity. Goldman Sachs predicts that the metaverse could be an $8 trillion business opportunity. JPMorgan has stated that this $1 trillion market “will likely infiltrate every sector.”

What do you think about Analysis Group’s metaverse report? Comment below.

Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. His entry into the cryptocurrency world in December 2017 was when it saw a price surge, and he describes himself as being late to this game. His background is in computer engineering, but he also lives in Venezuela and was influenced by the crypto boom at a socio-economic level. He offers an alternative perspective on cryptocurrency success and the benefits it has for the underbanked.

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