New Study by Travel & Tourism Industry Examines Impact of Crises and Recovery Times

November 4, 2019

Categories: Press Release,

London, November 4, 2019 – A new body of research was unveiled today that analyzed the impact of 90 crises between 2001 and 2018 examining the time to recovery as well lost arrivals and lost visitor spending. Of the four crisis categories analyzed, political instability proved the most challenging with average recovery times of more than 22 months while terrorist or security related incidents having the shortest average recovery time of 11 and a half. The average recovery times for natural disasters and disease out breaks were 16.2 months and 19.4 months, respectively.

The study was conducted by the World Travel & Tourism Council [WTTC], the global body that represents the private sector of the travel & tourism industry, in partnership with Global Rescue, a membership organization which provides medical, security, evacuation, travel risk and crisis management services.

Gloria Guevara, President & CEO, WTTC said: “This comprehensive research shows just how resilient the travel & tourism industry truly is. While there is still work to be done, the data shows that recovery times have fallen significantly over the past two decades, and that major strides have been made. It is crucial that we continue to learn from previous incidents and continue to come together through public private partnerships to make a real difference in reducing both the economic and human impact.”

Key findings included:

  • The travel & tourism industry is more resilient than ever – average recovery times have decreased from 26 months in 2001 to 10 months in 2018.
  • Political instability has a greater impact than terrorism on issues and recovery times. Governments have the opportunity to improve but need to engage with the private sector.
  • Of the four crisis categories analyzed, political instability proved the most challenging [with average recovery times of 22.2 months] with terrorist or security related incidents having the shortest average recovery time of 11.5 months. Additionally, the average recovery times for natural disasters and disease out breaks were 16.2 months and 19.4 months respectively.
  • Public private partnerships and communications are critical for preparedness and prevention.

*Note: Of the 90 crises analyzed – 32% were terrorism/security related, 13% were disease/outbreaks; 19% were political instability and 36% were natural disasters.

Later today, WTTC CEO will host a panel discussion at the World Travel Market revealing the research findings of the report entitled “Crisis Readiness: Are You Prepared and Risk Resilient to Safeguard Your People and Destinations?” joined by Daniel Richards, Chief Executive Officer, Global Rescue, Isabel Hill, Director, US National Travel & Tourism Office, Government of the United States of America, Rania Al-Mashat, Minister of Tourism of Egypt and Najib Balala, Cabinet Secretary for Tourism & Wildlife, Kenya.

One of the panel participants, Dan Richards, Chief Executive Officer, Global Rescue said: “Sometimes as challenging as the crisis itself is the preparation, management and coordination of the resources needed to mount an effective response.  We are optimistic that by working together, we will be able to further improve the sector’s resilience to systemic shocks.

In the report, WTTC and Global Rescue, offer recommendations on how destinations can mitigate the impact of a crisis, showcasing successful examples from the likes of Kenya, Mexico, Hawaii and Japan. The report also highlights the importance of being prepared and the need for coordinated management to ensure a successful recovery.

To view the full report, please visit www.wttc.org/XXXX

 

The World Travel & Tourism Council (WTTC) is the body which represents the Travel & Tourism private sector globally. Members include over 180 CEOs, Chairmans and Presidents of the world’s leading Travel & Tourism companies from all geographies covering all industries. WTTC works to raise awareness of Travel & Tourism as one of the world’s largest economic sectors, supporting one in 10 jobs (319 million) worldwide and generating 10.4% of world GDP. WTTC conducts research on the Economic Impact of Travel & Tourism in 185 countries for nearly 30 years. In 2017, the Travel & Tourism industry experienced 3.9% growth, compared to the global economy (3.2%).


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