Suzhou, a city in China’s Jiangsu Province has announced a plan to become a hub for metaverse development and innovation by attracting over 200 companies in the VR tech industry by 2025.
The city will focus on 30 areas, including healthcare, tourism, education, and city administration, and aims for metaverse-related industries to be worth 200 billion yuan (US$29.77 billion) by 2025.
However, it faces competition from other cities in China such as Shanghai, Beijing, Guangzhou, Chongqing, Jinan, and the provinces of Zhejiang and Henan that have published their own plans for metaverse development.
South Korea is also actively pursuing metaverse development with a goal to be in the top five nations in the field by 2026 and has started Metaverse Seoul to provide digital services to residents of the capital city.
