Managing political risks: ISO 31000 risk management process as a risk mitigation tool a case study of the south African tourism industry

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dc.contributor.advisorLambrechts, Dericaen_ZA
dc.contributor.authorOosthuizen, Alzeten_ZA
dc.contributor.otherStellenbosch University. Faculty of Arts and Social Sciences. Dept. of Political Science.en_ZA
dc.date.accessioned2023-02-24T10:13:05Z
dc.date.accessioned2023-05-18T07:02:02Z
dc.date.available2023-02-24T10:13:05Z
dc.date.available2023-05-18T07:02:02Z
dc.date.issued2022-12
dc.descriptionThesis (MA)--Stellenbosch University, 2023.en_ZA
dc.description.abstractENGLISH ABSTRACT: Travel and tourism form an industry that is very susceptible to political risk events and factors, even more so now because of the recent Covid-19 pandemic and related travel restrictions. Tourism industries worldwide are trying to recover from the crippling effects of the Covid-19 pandemic, and the South African tourism industry is no exception. The Covid-19 pandemic has brought countless travel bans and harsh lockdowns, and the objective now is to attract foreign tourists and investments to help boost a crippled tourism sector. However, the presence of political risks, which were made worse by the pandemic, can hamper this recovery. Political risks cause major damage to a country’s reputation as an attractive investment and tourist destination, which can be detrimental to an industry that is trying to recover from a global pandemic. Therefore, it becomes necessary for tourism industries to forecast potential political risks and devise mitigation strategies to deal with them before they happen. The research question for the study therefore was concerned with how the tourism industry in South Africa can improve political risk mitigation in order to stimulate the growth of the industry and better prepare for turbulent times. To answer this question, the study used a six-step risk management process developed by the International Organization for Standardization as a tool for political risk mitigation in the case study of South Africa’s tourism industry. The six-step risk management process provides a practical framework in which the South African tourism industry can identify, analyse, measure, evaluate and treat political risks in the tourism context. The study found that the tourism industry cannot avoid political risks; instead, travel and tourism organisations should have strategies in place to minimise the likelihood of the risk occurring or to reduce the impact of the risk. This research study contributes to the literature on political risk management and mitigation in the tourism industry. In addition, this study also assists businesses operating within the South African tourism industry to improve their political risk preparedness and response.en_ZA
dc.description.abstractAFRIKAANSE OPSOMMING: Reis en toerisme vorm 'n bedryf wat baie vatbaar is vir politieke risiko-gebeure en faktore, selfs meer nou as gevolg van die onlangse Covid-19-pandemie en die verwante reisbeperkings. Toerismebedrywe regoor die wêreld probeer herstel van die verlammende gevolge van die Covid-19-pandemie en die Suid-Afrikaanse toerismebedryf is geen uitsondering nie. Die Covid-19-pandemie het reisverbod en harde inperkings meegebring, en die doel is nou om buitelandse en binnelandse toeriste en beleggings te lok om 'n verlamde toerismesektor te help bevorder. Die teenwoordigheid van politieke risiko's, wat deur die pandemie vererger is, kan egter hierdie herstel belemmer. Politieke risiko's veroorsaak groot skade aan 'n land se reputasie as 'n aantreklike beleggings- en toeristebestemming, wat nadelig kan wees vir 'n industrie wat van 'n wêreldwye pandemie probeer herstel. Daarom is dit vir toerismebedrywe nodig om potensiële politieke risiko's te voorspel en versagtingstrategieë te bedink om dit te hanteer voordat dit gebeur. Die navorsingsvraag vir hierdie studie fokus dus op hoe die toerismebedryf in Suid-Afrika politieke risikoversagting kan verbeter ten einde die groei van die bedryf te stimuleer en beter te kan voorberei vir onstuimige tye. Om hierdie vraag te beantwoord, gebruik die studie 'n ses-stap risikobestuursproses wat deur die Internasionale Organisasie vir Standaardisering as 'n instrument vir politieke risikoversagting ontwikkel is in die gevallestudie van Suid-Afrika se toerismebedryf. Die ses-stap risikobestuursproses verskaf 'n praktiese raamwerk waarin die Suid-Afrikaanse toerismebedryf politieke risiko’s in die toerismekonteks kan identifiseer, analiseer, meet, evalueer en hanteer. Die studie het bevind dat die toerismebedryf nie politieke risiko’s kan vermy nie, maar reis- en toerisme-organisasies moet eerder strategieë in plek hê om die waarskynlikheid en die impak van die risiko te verminder. Hierdie navorsingstudie sal bydra tot die bestaande literatuur oor politieke risikobestuur en -versagting in die toerismebedryf. Boonop sal dit ook besighede wat in die Suid-Afrikaanse toerismebedryf werksaam is, bystaan met die verbetering van hul politieke risikogereedheid en -reaksie.af_ZA
dc.description.versionMastersen_ZA
dc.format.extentx, 115 pages : illustrationsen_ZA
dc.identifier.urihttp://hdl.handle.net/10019.1/127054
dc.language.isoen_ZAen_ZA
dc.publisherStellenbosch : Stellenbosch Universityen_ZA
dc.rights.holderStellenbosch Universityen_ZA
dc.subject.lcshRisk management -- South Africaen_ZA
dc.subject.lcshSouth Africa -- Politics and govermenten_ZA
dc.subject.lcshISO 31000 Risk Management Processen_ZA
dc.subject.lcshTourism -- South Africa -- Risk managementen_ZA
dc.subject.lcshCOVID-19 Pandemic, 2020-en_ZA
dc.subject.nameUCTD
dc.titleManaging political risks: ISO 31000 risk management process as a risk mitigation tool a case study of the south African tourism industryen_ZA
dc.typeThesisen_ZA
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