Asian Tech Press (Nov 16) -- The metaverse's annual contribution to Asia's GDP could reach $800 billion to $1.4 trillion by 2035, according to a new report by Deloitte.

Consulting firm Deloitte said in a recent report that the metaverse could have "transformative effects" on the Asian economy because of Asia's favorable demographics, semiconductor manufacturing capacity and policy supports.

The report, titled "The metaverse in Asia – Strategies for accelerating economic impact," examines the potential impact of the metaverse on 12 Asian economies, including mainland China, Hong Kong, Indonesia, Japan, India, Vietnam, etc.

Deloitte said the metaverse could contribute between $800 billion and $1.4 trillion per year to Asia's GDP by 2035, which would be about 1.3% to 2.4% of overall GDP, assuming sustained technology investment over the next five to 10 years.

By 2035, the contribution of the metaverse to the GDP of major Asian economies will be $456-862 billion for mainland China, $87-165 billion for Japan, $79-148 billion for India, $36-67 billion for South Korea, and $28-52 billion for Indonesia.