What are the 4 steps of risk management applied in tourism and hospitality industry?
Outlined below is the model from Destination Canada for small and medium enterprises. It has four stages: risk identification, risk analysis, risk control, and risk treatment (DC, 2003a).
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natural disasters and epidemics). The conflicts that affect tourism development may be various. These are primarily: natural disasters and catastrophes, terrorism, wars, economic crises, epidemics.
A thorough inventory and analysis of possible risk scenarios is essential, so that you fully understand the risks to your tourism business. Looking ahead and being well prepared may help to minimise losses and put you in a great position to take advantage of any opportunities that may arise.
Challenges facing Tourism include taxations, travel promotions, safety, infrastructure, and cross border set of laws among others. The majority of tourism destinations are not ready for visitors.