GlobalData warns of cybersecurity threat to travel & tourism

Rising ransomware attacks pose major danger, warns study
2023-04-15
/
/ New Delhi
GlobalData warns of cybersecurity threat to travel & tourism

GlobalData says that companies need to adopt appropriate cutting edge technologies to protect themselves and their customers against ransomware

A study by leading business data and analytics firm GlobalData says that the global travel and tourism industry is increasingly the target of ransomware attacks which pose major cybersecurity threat to the industry and its clients.
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The travel and tourism sector has become a prime focus for cyberattacks in recent times, resulting in ransomware incidents arising from data breaches. Against this backdrop, cybersecurity concerns within the industry have escalated with a 4 pc year-on-year (YoY) rise in 2022, reflecting the prevailing sentiment, says GlobalData, a leading data and analytics company.

In its report, Company Filing Analytics Database, GlobalData says that sentiment for airlines, travel services, and lodging rose by 6 pc, 4 pc, and 1 pc, respectively, in 2022 over 2021.

“Companies are consistently working on information and network security projects to set up a reliable technical protection and security management mechanism to ensure customer security and prevent data leakage. A severe data security incident can lead to operational disturbances and cause significant financial damage to the business,” says Misa Singh, Business Fundamentals Analyst at GlobalData.

The report goes on to say that companies need to adopt appropriate cutting edge technologies to protect themselves and their customers against ransomware and other cybersecurity threats that they face.

“Failing to adopt appropriate technology leaves companies vulnerable to cyber threats that can have a detrimental impact on their operations . Investing in robust cybersecurity solutions, educating employees about cybersecurity risks, and staying up to date on cybersecurity threats can help reduce the likelihood of an attack,” says Singh.

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