Weather Risk Management in Tourism Industry

Abstract

Globalisation, climate change, the global economic crisis, and the increasing political instability have multiplied the risk factors in the tourism industry. Climate change, in particular the variability of weather, hevily affects decision-making in the tourism industry. Indeed, tourism can be considered a highly weather-sensitive economic sector, but, at the same time, the tourism industry has a key role to play in dealing with the challenges of climate change. For their own survival, tourism firms should adopt actions aimed at promoting a risk reduction through urgent measures designed to combat climate change (reduction of energy consumption, switching to renewable energy sources, etc.). On the other hand, they should enable complementary interventions to share weather risks: from "accessory services", such as tasting events, sport activities, wellness centers, which promote tourism attractiveness safeguarding territory sustainability, to rainfall derivatives, which are designed to protect tourism firms from excessive rainfall.

Ouverture de ‘CSR and Multi-Stakeholder Management’

“…Talking about climate change from a business perspective is a very complex issue (Franzoni & Pelizzari, 2016;Adger et al, 2018), which requires contemplating the responsibility of companies in this phenomenon, as well as the effects they can suffer from it. In both cases, the discourse should also consider the broader interests of a company's stakeholders.…”

Comparative Analysis of Competitiveness Tourism Between China and Mali.

“…The Malian government recognizes that, as industry and agriculture are relatively backward, it is of great practical significance to develop the national economy and tourism. In addition to providing a large number of employment opportunities and improving the lives of people who are often in cyclical poverty or are almost marginalized, tourism is an important channel for the state to earn foreign exchange 19 . Tourism helps to improve the balance of payments in poor countries.…”

“…The contribution of Mali tourism to GDP has shown a steady upward trend. Although the growth rate decreased from 2012 to 2013, it has continued to increase since 2014 19. Liu Xu.…”

Sustainable Finance and Non-Financial Disclosure: The Impact for the Insurance Industry

“…But what emerges mostly is the need to have reliable and complete information on risks and investments (Gandini et al, 2014). According to the United Nations Plan of Action on Disaster Risk Reduction (UNISDR, 2017) it is essential that risk prevention, especially risks stemming from climate change (Franzoni & Pelizzari, 2016), be concretely integrated with the action of the European Commission for the economic development of the Union and the Junker Plan for investments.…”