GlobalData, a leading provider of market research and analytics, has issued a warning about the increasing prevalence of ransomware attacks, which pose an increasingly serious cybersecurity threat to the travel and tourism industry. Ransomware is malicious software that encrypts a computer’s data and demands payment from users in order to regain access.
However, the industry is set to experience a 4% year-on-year (YoY) rise in 2022. This reflects the growing sentiment that the sector is particularly vulnerable to malicious cyber threats and must take proactive steps to ensure safe and secure operations.
This type of attack presents a significant risk to businesses in the travel and tourism sector, as hackers can easily target customer data such as financial information, contact details, and travel itineraries.
Comment on Misa Singh one analyst from GlobalData
Misa Singh, a business fundamentals analyst at GlobalData, emphasizes the importance of data security and its role in business continuity. She states that companies are continuously developing information and network security initiatives to create a dependable technical protection system and management protocol that safeguards customer information and stops any potential data leakage. Failing to do so can result in harsh consequences, such as operational disruptions or major financial losses for the organization.
The industry is particularly vulnerable due to its reliance on digital infrastructure such as online booking systems, mobile applications, and websites. GlobalData has urged companies in the sector to take steps to protect themselves by implementing comprehensive cybersecurity measures such as deploying firewalls and antivirus programs, regularly updating software, and training staff in security protocols.
