Risk Management Strategies: An Empirical Analysis of Strategies Employed by Tourism Business Managers in Plateau State, Nigeria during the COVID-19 Pandemic

Abstract

The ‘new normal’ era of the COVID-19 pandemic had debilitating effects from a number of restrictions on businesses that have had a significant impact on the travel and hospitality sectors. Chaos theory is applied to investigate the risk management strategies employed by tourism business managers in Plateau State Nigeria, during the pandemic. Interview responses were subjected to qualitative analysis and the findings of this study are consistent with chaos theory. As risk management strategies for the survival of tourism businesses, order and new stability reemerged from a chaotic tourism crisis era. Due to their experiences with the epidemic, managers and owners of tourism-related enterprises decided to base their decisions on planned behaviour. The viewpoints and experiences of managers of tourism-related businesses are valuable sources for practical risk management strategies that can be used in the event of a pandemic. These are priceless resources that will help other tourism sector players comprehend and weigh their alternatives for handling such extraordinary situations in the future.

Keywords

• risk
• risk management strategies
• tourism
• covid-19
• plateau state