Transparency on sustainable tourism market is now required by several other stakeholders and potential future ones. Investors will often assess a company’s ESG performance when conducting due diligence. Therefore, many company directors are allocating increasing amounts of capital and resources to address ESG aspects and increase attractiveness. 75% of travel and tourism executives stated that the pandemic has acted as a catalyst for increased action on ESG issues. Executives now realize the importance of adopting ESG strategies to address emerging macroeconomic factors. The downtime created by the pandemic has meant that both the public and private sectors have had ample time to assess how they can make a true difference in terms of their ESG strategies.
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