Metaverse Potential for Romania. Outlining a National Metaverse Strategy

The Metaverse – essentially describing a dynamic, interconnected network of immersive and interactive digital spaces – has rapidly evolved, promising a digital universe where physical and virtual realities intersect.

Experienced mostly through immersive technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR), Metaverse is having a considerable impact on many industries and aspects of our lives. Creating more engaging and interactive learning experiences for students of all ages, improving surgical training, patient education, and mental health treatment, and developing new forms of entertainment, such as virtual reality games and augmented reality experiences – these are just a few examples of how these technologies have the potential to revolutionize the way we interact with the internet and with each other.

Although in its early stages of development, the Metaverse has the potential to contribute massively to the world economy. A recent study commissioned by Meta and produced by Deloitte estimates that the EU may see an increased economic opportunity of as much as €259–€489 billion in annual gross domestic product (GDP) by 2035 – equivalent to 1.3%–2.4% of the total GDP, from these immersive technologies.

By developing a Metaverse strategy, Romania can ensure that it is well-positioned to capitalize on the potential benefits of this emerging technology:
• Economic impact: The Metaverse has the potential to create new jobs and
businesses, boost tourism, and improve education and healthcare.
• Social impact: The Metaverse has the potential to connect people from all over the world and create new forms of social interaction.
• Environmental impact: The Metaverse has the potential to reduce our environmental impact by reducing the need for travel and transportation, greenhouse gas emissions, and improving air quality.
• Technological innovation: The Metaverse is a rapidly evolving technology driving innovation in many fields.