Against this backdrop, cybersecurity concerns within the industry have escalated with a 4% year-on-year (YoY) rise in 2022, reflecting the prevailing sentiment.
An analysis of GlobalData’s Company Filings Analytics Database found that sentiment for airlines, travel services, and lodging rose by 6%, 4%, and 1%, 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. 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,” said Misa Singh, Business Fundamentals Analyst at GlobalData.