DBI warns Ireland in danger of losing out on potential of Metaverse

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    Urge governments to develop national strategies or risk losing out to international competition in the digital space



    Digital Business Ireland (DBI) is calling on the Government to introduce a comprehensive national strategy for the Metaverse. Otherwise, we risk losing the economic growth potential associated with this initiative.

    According to a recent report conducted by Deloitte and commissioned by Meta, the Metaverse within the European Union could contribute up to €489 billion annually to the region's GDP by 2035.

    DBI said Ireland should focus on fostering a robust European Metaverse ecosystem for business and follow the lead of Finland, which recently launched Europe's first Metaverse strategy. The move aims to foster real business value within Europe and is in line with the European Commission's Digital Decade Vision, which aims for Member States to establish a resilient digital foundation.


    Ashley McDonnell, Chair of Digital Business Ireland, said: “The emergence of new markets and businesses arising from the expansion of the Metaverse provides a unique pathway to advance Ireland's digital economy in a tangible way.” . However, if we do not seize the opportunities that exist, we will not only be left behind by the country and the business community, but also lose our position as a global digital hub. It is therefore important to build digital resilience in a strategic way… To make the most of this potential, businesses should follow the precedent set by Finland in establishing Europe's first Metaverse strategy. Must be. ”

    Camille Donegan, director of Airmersive, an organization representing companies in the immersive technology space, said: “The Finnish Metaverse Strategy defines the Metaverse as 'the convergence of the physical and digital worlds in the next revolutionary stage of the Internet, social networks and new technologies'. According to our latest data, The immersive sector is made up of organizations that generate €90 million annually. This figure represents an increase from the €43 million recorded in 2022 and represents a significant increase in activity. …Building on Finland's excellent example, Ireland's Metaverse strategy is essential to establishing itself as a global leader in this sector. We strongly believe that this is not just an opportunity, but a necessity for the future of the world.”

    TechCentral Reporter

    read more: E-commerce Metaverse Virtual Reality VR


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