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Beyond virtual experiences: How destination-based metaverse initiatives create value in tourism
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DOI：10.1016/j.tourman.2026.105477.png)
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Abstract
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The purpose of this study was to examine whether destination-based metaverse initiatives create value for tourism firms. Although there is extensive debate about whether the metaverse stimulates or replaces physical tourism, the literature has not yet clarified how such initiatives are interpreted in terms of value creation. Using a sample of hotels, airlines, and restaurants across 13 countries, we analyze changes in firm value following announcements related to the development of metaverses inspired by tourist destinations. The findings indicate that destination-based metaverse initiatives are generally associated with positive value effects, suggesting that they are perceived as strategic opportunities rather than threats to traditional tourism. Building on screening theory, the results show that national culture plays a critical moderating role, with long-term orientation strengthening the positive impact of metaverse initiatives, advancing tourism innovation research by showing that the strategic value of immersive technologies depends on cultural context.
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