World Economic Forum

WEF Survey Shows Developing Nations Fancy the Metaverse, Rich Nations Not Very Keen

The number of people in developing countries positive about the metaverse, and holding the view it will impact their lives, is more than double compared to that of the developing countries. 

Ipsos Reports that Emerging Nations are More Positive on Metavrse

The excitement about metaverse is way higher in the developing states compared to high-income nations, according to a survey done for the World Economic Forum (WEF). 

Ipsos, a market research firm, unveiled the results of the study on Wednesday, indicating that the concept is recognized widely. 52% of the 21,000 people surveyed in the involved 29 countries said they were conversant with metaverse. 50% of them further showed that they were positive about engaging it in their daily lives. 

India, Peru, China, Columbia, and Saudi Arabia were the top five nations where 2/3 or more of respondents gave positive feelings towards the metaverse. China reported the highest level, with 78% of respondents giving very positive feelings towards the development and use of metaverse, as India trailed closely with 75%. 

High-Income States Least positive about Metaverse

The lowest scoring nations, with less than 1/3 of survey respondents being positive about metaverse, were the highest income countries. Japan scored the lowest, with only 22% showing positive feelings about the metaverse. Others included: 

  • Belgium (26%). 
  • Canada (30%). 
  • France (31). 
  • Germany (31). 

It was interesting that more people in the high-income countries were also less familiar with the concept of metaverse. Germany, France, and Belgium had fewer than 30% of people conversant with metaverse. 

In the areas that people thought metaverse would impact them most, countries such as India, China, and South Africa indicated entertainment, virtual learning, and applications such as remote surgery. However, most high-income states had the lowest percentages of people who believed that metaverse would impact their lives significantly. 

The developing states are enthusiastic about blockchain and cryptos because of a number of things, such as currency inflation and devaluation in those areas. The report indicated that residents of nations that experienced 50% or more of their local currency devaluation were about 5X more likely to buy cryptos compared to those from high-income nations.  

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