Travelers are more inter-connected than ever before, businesses are streamlining business operations to accommodate to changing traveler needs and the travel and technology sectors are becoming ever more entwined, increasing the exposure and vulnerability to cyberattacks.
This thematic research report takes an in-depth look at the role of Cybersecurity within the travel and tourism sector. The report analyzes cybersecurity trends within tourism alongside an array of case studies that look at the actions companies have taken post-breach, followed by an analysis of the impacts of this theme. Recommendations are then offered for the sector alongside a description of some of the companies mentioned.
"Holding various levels of personal data, the travel and tourism sector is a 'hotbed' for cybersecurity threats. As all related industries begin to invest more heavily in technologies such as AI, IoT and Big Data to offer the ultimate 'personalized' experience' this is increasing the threat. There is a lack of investment from many into this theme - to be winners this needs to be identified with a clear, efficient strategy in place".
- Cybersecurity was ranked as the second most important theme in the current travel space, coming second only to social media (GlobalData's emerging technology travel trends survey (2019)). As the global tourism industry is riding a digital wave, implementing new technologies such as cloud, AI, big data and IoT, travelers are more connected online than ever therefore this increases exposure.
- Governments worldwide continue to update their cybersecurity strategy (see macroeconomic trends) as the threat increases yet they still operate under a 'cloak of secrecy'. Whilst this could be kept secretive, there does seem to be a current lack of investment and even identification in the travel and tourism space.
- Travelers are both valuable and vulnerable. They are more exposed than ever to cybersecurity threats as they become increasingly connected through social media, increase their online transactions and are generally more active.
COVID-19 has decimated the travel industry across 2020. In order to recover, a strong and positive brand image is critical to tackle negative consumer sentiment. If a cyberattack occurs, this has the potential to prolong recovery causing a further loss of consumer confidence. Companies are becoming more dependent on online and customer care channels which in turn makes them more susceptible to a form of attack thus the need to hold a viable strategy is critical.
- Across the sector, ransom attacks are the most common with nefarious attackers demanding a ransom be paid to reduce the risk. Out of all industries, hotels are the most prone to cyberattacks due to a high dependence on IT to manage systems, the level of personal data they collect and the variety of 'entry points' across the business including reservations, to front desk, guest services and loyalty programs provided.
- This thematic report provides an overview of cybersecurity within the travel sector today and the implications that it can have.
- The key trends within this theme reflect some of the current issues within this theme through cybersecurity today.
- Several case studies are included to identify the implications a cyberattack has had on a company and the actions that have been taken to mitigate future threats.
- The impacts of cybersecurity on the travel and tourism sector are then discussed in detail outlining the key threats the industry faces today.
- To conclude, an array of recommendations are laid out to suggest various ways in which a company can become better protected in the face of a cyber-threat.
Reasons to Buy
- Understand the theme of cybersecurity and how this has/will affect the travel and tourism sector in the future.
- Access how businesses are investing more into digitizing their products, offering the ultimate 'personalized experience' and how this puts a greater threat on cybersecurity.
- GlobalData's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
- Airlines, lodging providers, travel intermediaries, DMO's and TMC's should utilize this report to understand why cybersecurity is a key theme within the travel and tourism sector and should not be ignored.
- Find out recommendations that will help make your company or organization more cyber-secure and why this is important.
- This thematic applies to all industries within the travel sector including airlines, hotels, attractions and tour operators - management roles across different providers are likely to benefit, observing how a cyberattack can affect tourism development.