The World Travel & Tourism Council in partnership with Global Rescue has analysed the impact of 90 crises between 2001 and 2018, at a national and city level, examining the time to recovery as well lost arrivals and lost visitor spending.
Crisis recovery times decrease over 50%
Political instability ranked #1 crisis
Key findings included:
- The Travel & Tourism sector is more resilient than ever – average recovery times have decreased from 26 months in 2001 to 10 months in 2018.
- Of the four crisis categories analysed, political instability proved the most challenging [with average recovery times of 22.2 months, minimum 10 months] while terrorist or security related incidents have the shortest average recovery time of 11.5 months (minimum 2 months).
- Additionally, the average recovery times for natural disasters and disease outbreaks were 16.2 months and 19.4 months respectively (minimum 1 and 10 months respectively).
- Public private partnerships and effective, transparent communications are critical for preparedness and prevention.
- Gloria Guevara, President & CEO, WTTC said: “This comprehensive research shows just how resilient the Travel & Tourism sector 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.”
Note: Of the 90 crises analyzed – 32% were terrorism/security related, 13% were disease/outbreaks; 19% were political instability and 36% were natural disasters.