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Journal : Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)

INNOVATIVE APPROACHES TO TOURISM RISK MANAGEMENT: INCREASING RESILIENCE AND ADAPTATION TO CRISIS Marbawi; Nurfaliza; Aiyub Yahya
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 3 (2025): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v1i3.159

Abstract

The tourism industry is increasingly vulnerable to various crises, such as natural disasters, political instability, and health emergencies. Traditional risk management approaches often focus on reactive measures and short-term solutions, failing to address the root causes of vulnerability and build long-term resilience. This study explores the limitations of traditional tourism risk management practices and investigates the potential of innovative strategies to enhance the resilience and adaptability of the tourism sector in the face of crises. Through a comprehensive literature review, the study identifies key characteristics of innovative risk management approaches, including proactive planning, systems thinking, adaptive management, and multi-stakeholder collaboration. The findings highlight the importance of effective governance structures, strong leadership, and a culture of learning and knowledge sharing in the successful implementation of these strategies. The study also reveals the critical role of technology and digital tools in enhancing resilience and adaptability, as well as the potential of community-based approaches to risk management. However, the research acknowledges the need for further investigation into the factors that enable or hinder the adoption of innovative practices in different tourism contexts, as well as the specific challenges posed by different types of crises. The study concludes by emphasizing the importance of a holistic and proactive approach to tourism risk management, engaging diverse stakeholders, and fostering a culture of resilience and adaptability. The findings provide valuable insights for tourism practitioners, policymakers, and researchers seeking to develop more effective and sustainable risk management strategies in the face of an increasingly complex and uncertain global environment.
RESILIENCE MODEL IN TOURISM: RISK MANAGEMENT STRATEGIES TO FACE CRISES AND CHALLENGES Marbawi; Aiyub Yahya; Nurfaliza
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 1 (2023): July
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i1.161

Abstract

The tourism industry is increasingly vulnerable to various crises and challenges that can disrupt operations, damage destination reputations, and threaten the sector's sustainability. This study aims to propose a resilience model in tourism that integrates risk management strategies to face crises and challenges. Through an in-depth literature review, this research identifies the limitations of traditional tourism risk management approaches and explores the potential of innovative strategies in building resilience. Key factors influencing the successful implementation of the resilience model, such as effective governance, strong leadership, and knowledge management, are also discussed. The proposed resilience model emphasizes a holistic and collaborative approach, with key components including risk and vulnerability assessment, development of adaptive and innovative capacities, multi-stakeholder collaboration, proactive strategy planning and implementation, and continuous monitoring and learning. This research contributes theoretically by expanding the understanding of tourism resilience and offers practical implications for stakeholders in developing effective risk management strategies. Despite limitations such as reliance on literature review and the conceptual nature of the proposed model, this study provides a solid foundation for further exploration of resilience in tourism. The findings highlight the importance of adopting a more proactive, collaborative, and long-term perspective in tourism risk management to build resilience and ensure the sector's sustainability in the face of increasingly complex crises and challenges.