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One of the sectors with the fastest growth rates worldwide is the hospitality and tourism industry, although the pandemic caused losses and setbacks for the industry. The potential of the metaverse and virtual travel could lead to the emergence of a brand-new sector. Thus, traditional online travel agencies may need to change their utility model in the future to accommodate the new technology. This virtual transformation in the metaverse entails more flexible travel options, customized consumer services, and improved entertainment. The employment of augmented and virtual reality technology in the metaverse may enable seamless interaction between users in real and simulated surroundings. As such future developments in metaverse technology may enable fully immersive experiences. Customers can now get real-time price changes, availability, and promotions bypassing third-party distribution platforms. This research note aims to introduce the metaverse’s enormous potential and to define three research proposals for additional investigation.
Ampountolas et al. (Sun,) studied this question.