Thematic Intelligence: Cybersecurity in Travel and Tourism (2024)

Thematic Intelligence: Cybersecurity in Travel and Tourism (2024)

Thematic Intelligence: Cybersecurity in Travel and Tourism (2024)

Summary

This report analyzes the key theme of cybersecurity in the travel and tourism sector. Cybersecurity is taking on greater importance as travel companies navigate the digitalization of the sector. This report provides an insight into key trends, challenges, and recommendations, as well as providing concrete case studies to help the reader see examples of cybersecurity in action.

Cybersecurity refers to technologies, processes, and practices designed to protect networks, computers, programs, and electronic data from attack. The travel and tourism industry is highly exposed to attacks due to the large amounts of personal data it handles, including names, addresses, passport details, and payment information. According to GlobalData forecasts, spending on cybersecurity in the travel and leisure sector will hit $4.3 billion in 2027, up from $2.3 billion in 2022 at a compound annual growth rate (CAGR) of 13.2% over the five-year period.

The travel and tourism sector is increasingly digitalized, embracing technologies like augmented reality (AR), artificial intelligence (AI), and cloud-based operations. These technologies are enhancing the sector’s offerings to customers and helping it accommodate greater numbers of travelers. However, digitalization comes with risks that can expose customers and companies to cyberattacks. This is especially true as threats become more advanced. CrowdStrike reports that breakout time (the time taken for attackers to move from the initially compromised system to the target network) is reducing as malware becomes more advanced, particularly when assisted by AI. The average breakout time in 2022 was 84 minutes; by 2023, it had fallen to 62 minutes. The fastest recorded time was two minutes and seven seconds. Data is most secure when all companies across the travel and tourism value chain invest in the necessary layers of the cybersecurity value chain. Collaboration between vendors and travel and tourism companies is thus vital to ensure that sensitive data is secure and operations remain uninterrupted.

Scope

• This report analyzes the key theme of cybersecurity in the travel and tourism sector.
• This report provides an insight into key trends, challenges, and recommendations, as well as providing case studies to help the reader see examples of cybersecurity in action.

Reasons to Buy

• Understand the impact of cybersecurity on the tourism industry, using case studies to help you understand how you can adapt and understand this theme.
• Assess the strategies that companies are adopting to succeed in cybersecurity.
• Discover companies that are leading in the space.
• Analyze real-world trends created by integrating cybersecurity across the travel & tourism sector.
• 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.