Developing countries love the Metaverse, rich nations not keen: WEF survey

Sebastian Parker
Sebastian Parker
Last Updated on May 26, 2022

According to a survey by the World Economic Forum (WEF), the excitement for the Metaverse (VR/AR) and virtual or augmented realities (VR/AR), is higher in developing countries than it is in high-income nations.

The results of the Ipsos survey were released by market research firm Ipsos on May 25, showing that the concept is well-known. 52% of the more than 21,000 adults surveyed in 29 countries know the M etaverse, and 50% feel positive about using it in their daily lives.

China, India and Peru were the top five countries in which two-thirds of respondents indicated that they felt positive about it.

China was the most positive, with 78% of its citizens feeling positive about using a metaverse every day. India followed at 75%.

The countries with highest incomes were the lowest-scoring countries, with less than one third of respondents being positive about the Metaverse.

Japan was the worst with only 22% of respondents expressing positive feelings. Next came the United Kingdom (26%) and Canada (30%). France (31%), Canada (31%), and Germany (31%).

It was also less well-known in high-income countries, such as France, Belgium, and Germany, where the average income is below 30%.

At 86%, Turkey was the most familiar with the Metaverse. India (80%), China (73%), and South Korea (71%) were the next highest income countries. Poland was the worst performer with 27%.

The Metaverse survey also asked respondents what areas of their lives they believe the Metaverse will most impact. South Africa, India, China, and India, all agreed that virtual learning, entertainment and digital networking would have an impact on people’s lives.

Related: How the Metaverse might impact kids’ lives

The lowest proportion of respondents who believed that Metaverse would make a significant difference in people’s lives were from France, Belgium, and Japan with high incomes.

According to an April report by cryptocurrency exchange Gemini, developing countries seem more excited about crypto and Blockchain across the board. This was based on the fact that half of the respondents from India, Brazil, and the Asia Pacific region bought their first cryptocurrency in 2021.

According to the report, inflation and currency appreciation are key drivers for crypto adoption in these regions. It stated that people who lived in countries with more than 50% currency devaluation were five-fold more likely to buy crypto than those who lived in countries with lower inflation.