Terrorism is an unfortunate “fact of life” that has plagued society throughout the whole of the last two millennia. In recent years an increasing number of attacks, across a wider part of the world, have led to a changing dynamic in relation to the impact of such attacks.
In this research paper David Harper, Head of Property Services for Hotel Partners Africa, provides some unique research on the impact of such terror attacks, with the help of hotel trading statistics and analysis, carried out by STR.
The impact of terrorism on the hotel and resort market in Africa has been substantial over the last few years, making the need for careful analysis of the phenomena essential.
The research bears out the following 13, important conclusions, with some significant implications for how countries and the Travel & Tourism industry deal with terror attacks:
1. The impact of terror attacks across the world is lessening
2. There has been a marked rise in terror attacks in recent years
3. The average casualty count has declined in recent years
4. In general, international tourism is resilient to terrorism
5. Recovery times for all types of locations are improving
6. Recovery time depends on the profile and scale of the market place
7. The impact of terrorism varies by political regime, income and tourism intensity
8. The long-term impact depends on the public perception of safety and on the trust placed in the authorities in that location
9. Political unrest has a longer-term impact than a terrorist attack
10. Frequency of attacks has a greater effect than the severity of an attack
11. The coverage in the media has an important impact on trading
12. The impact of an attack tends to be region-wide, so there is a financial imperative on neighbouring countries to try and stop any attacks being made on their neighbours
13. On average you are five times as likely to die by falling out of bed than you are to die as a result of a terrorist attack
For further information or for a copy of the full research paper, please contact David Harper at David.Harper@HotelPartnersAfrica.com