As we near the end of 2022, we are pleased to share some of the top highlights from the Hospitality Net World Panel this year. We have compiled a list of the most popular viewpoints published in each panel on our website over the past 12 months for you to review.
Risks affecting the hospitality industry are not only related to inflation, war, and geopolitics. Science has proven that climate-related risks and biodiversity loss are a threat to the fabric of society. The convergence of global systemic risks has a name: global polycrisis [1]. In addition, localized events such as wild fires or potential torrential rain put destinations at risk, leading to the assertion that "tourism destinations in every corner of the globe face the virtual certainty of experiencing a disaster of one form or another at some point in their history"[2]. The hospitality industry operates in a volatile, uncertain, complex, and ambiguous environment. Thus, it is challenging for hotel owners, operators, and leadership teams to adapt to the constantly changing circumstances.
The High Ambition Coalition (HAC) for People and Nature, with over 85 member countries [1], is calling for a 30 x 30 target: a global endeavor by governments to safeguard 30% of the land and ocean areas by 2030 [2]. The initiative comes with growing scientific evidence that large sections of the earth must be conserved in a natural state to address both the biodiversity and climate crises [3,4,5].
You wonder what ecosystem services are and why it matters to the hospitality sector? Everyone is talking about net zero carbon but are they all talking about the same thing? You have heard of hotels engaging in more circularity, adopting nature-based solutions and implementing a carbon offsetting scheme, but what does this all mean?