Hospitality and tourism: Chokepoints and risks

Hotels, restaurants, airlines, attractions and booking sites serving travellers

Conflict and geopolitics: WTTC estimated in 2026 that the conflict in Iran was costing the sector about US$ 600 million a day in international visitor spending⁴.
Jet fuel prices and aircraft delivery delays limit air capacity and fares on which most long-distance tourism depends.
India relies on domestic travellers for 86% of tourism spending, so its international share is small for a country of its size².
Distribution concentration: Booking and Expedia take about 85% of OTA hotel bookings in Europe, and three GDS firms carry almost all GDS air bookings⁵^,⁶.
Water stress, heat and over-tourism at popular destinations raise costs and invite visitor caps.