Page 39 - UN Executive Briefing on Unlocking the potential of virtual worlds and the metaverse for the Sustainable Development Goals

UN Executive Briefing on Unlocking the potential of virtual worlds and
the metaverse for the Sustainable Development Goals

Agency name:

United Nations Economic and Social Commission for Western Asia (UNESCWA)

Description of activities:

ESCWA is one of five regional commissions under the jurisdiction of the United Nations
Economic and Social Council. The role of the Commission is to promote economic and social
development of Western Asia through regional and subregional cooperation and integration.

Project 1: Report on Future Pathways for the Metaverse and Understanding Their Impacts
for Arab Countries
ESCWA, in collaboration with the Middle East Institute, prepared an in-depth report on the
metaverse's implications as a pivotal global megatrend, specifically focusing on its influence
in the Arab region through to 2040. Set for release in the second quarter of 2024, this report
thoroughly investigates the metaverse concept, underscoring its potential to revolutionize
sectors such as job creation, industrial evolution and economic growth in the Arab world.
The report's analysis identifies various transformative pathways the metaverse could enable
in the region. These include reshaping job markets and industries through metaverse-
driven technologies, potentially creating new job categories, altering or phasing out existing
jobs, transitioning work into metaverse environments, and evolving the necessary skill sets.
Additionally, the report probes the metaverse's capacity to bolster societal welfare in education,
health care, environmental sustainability and urban living standards. A crucial segment of the
report delves into the regulatory and governance frameworks essential for the metaverse. It
suggests that the Arab region has a unique opportunity to lead in establishing these frameworks
for the region and potentially becoming a major player in the global digital economy and
culture. The report culminates with 19 key findings, messages and strategic recommendations
targeting government agencies, private sector firms, civil society groups, and development
leaders. These guidelines are designed to assist stakeholders in leveraging the metaverse
megatrend for socio-economic progress in the Arab region. The report aims to elucidate the
diverse impacts of the metaverse on multiple socio-economic sectors in the Arab region. It
seeks to offer practical insights and policy recommendations to regional leaders to effectively
navigate industry transformations and enhance societal wellbeing. The document also
addresses potential challenges and opportunities, ensuring comprehensive coverage of the
metaverse's implications for the future of the Arab region.
Project type: report

Project status: ongoing
Related SDG:

The metaverse report provides 19 recommendations that are divided into three categories:
Policy and Legislative recommendations, Investment recommendations, and Technical
recommendations. These categories comprehensively address all facets pertinent to the
Sustainable Development Goals (SDGs), encompassing economic, social, environmental,
innovative, and other dimensions. Hence, all the SDGs are related to the study.

Relevant link: https:// www .unescwa .org/
Contacts: Mounir Tabet (mounir.tabet@ un .org) and Youzhi Zhang (Youzhi.zhang@ un .org)

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