The World Travel & Tourism Council (WTTC) has launched a new report at its Global Summit 2022 in Manila, emphasising the importance of cyber resilience in planning for a safer future.
The report, ‘Codes to resilience’, in joint efforts with Microsoft, draws on comprehensive research and interviews with cyber security experts in leading travel and tourism organisations such as Mastercard, JTB, and Carnival Corporation, among others.
It shows that whilst the Covid-19 pandemic has propelled the world and the sector into a more digital future, with the opportunities provided by digitalisation, new challenges have emerged, especially in cybercrime.
The inaugural report focuses on three key areas considered critical for the sector: cyber resilience, key issues and six best practices based on the lessons learnt prior to and during the pandemic.
The report goes on to show how digitalisation has become a strong enabler of business within travel and tourism, and given the international nature of the sector, it looks at the role of legislation around individual data protection.
According to the report, more than seven out of 10 (72%) of SMEs in the UK, the US, and Europe, have fallen victim to at least one cyberattack, and with SMEs representing 80% of all travel and tourism businesses, mitigating cyber risk must remain a priority for the sector.
Julia Simpson, WTTC President & CEO, said: “Technology and digitalisation play a key role in making the whole travel experience more seamless, from booking a holiday, to checking in for a flight or embarking on a cruise. But the impact of cyberattacks carries enormous financial, reputational and regulatory risk.”
This critical report reveals four key issues to address in order to improve cyber protection and enhance resilience: securing identity data, securing business operations, understanding the impact of COVID-19 and managing global legislation.
According to the report, certain actions can help businesses better prepare to repel an attack, while laying the foundation to support long-term cyber resilience. Educating and training all staff, expanding risk security beyond the physical workplace, employing a zero-trust approach to cyber security, and transparency, among others, have been recommended by industry experts as good practices.
Cyber resilience is a crucial element to the future of travel and tourism, as cyber systems continue to facilitate and enhance activities between the sector’s stakeholders.
