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Innovation and Value Creation Amidst Global Challenges and Crises in Tourism and Hospitality Industry

Author

Listed:
  • Daisy Xuefeng Fan

    (City University of Macau
    The Hong Kong Polytechnic University)

  • Naziyet Uzunboylu

    (University of Nicosia)

  • Leonidas Efthymiou

    (University of Nicosia)

  • Alkis Thrassou

    (University of Nicosia)

  • Demetris Vrontis

    (University of Nicosia)

Abstract

Varying from pandemics to wars and economic collapses, a number of devastating critical events occurred the last years, influencing the tourism and hospitality industry considerably. A crisis has the potential to wreak havoc on an organization, yet it’s crucial to bear in mind that throughout history, crises have played a crucial role in shaping societies. In this chapter, we delve into the opportunities that arise during times of crisis and their potential to foster a resilience, creativity, innovation, and value creation. The analysis involves gleaning valuable lessons from crises to enhance preparedness for future challenges and ensure long-term operational efficiency. Prioritizing innovation during a crisis becomes a key strategy for unlocking value and growth amidst global challenges.

Suggested Citation

  • Daisy Xuefeng Fan & Naziyet Uzunboylu & Leonidas Efthymiou & Alkis Thrassou & Demetris Vrontis, 2025. "Innovation and Value Creation Amidst Global Challenges and Crises in Tourism and Hospitality Industry," Palgrave Intersections of Business and the Sciences, in association with Gnosis Mediterranean Institute for Management Science,, Palgrave Macmillan.
  • Handle: RePEc:pal:pinchp:978-3-031-92409-5_1
    DOI: 10.1007/978-3-031-92409-5_1
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