The travel and tourism sector globally witnessed a decline in deal volume of 11 per cent, year-on-year (YoY) according to a report by GlobalData. There were a total 519 deals announced in the travel and tourism sector during January to September (Q1-Q3) 2024. The deals included mergers and acquisitions (M&A), private equity, and venture financing deals. However, the previous year had recorded 583 deals during the same time period.
The GlobalData report also revealed that the volume of mergers and acquisition deals reduced by 6.8 per cent during Q1-Q3 2024 compared to the same period in 2023. However the venture financing deals were down by 25.2 per cent YoY. Additionally, the number of deals in private equity were unchanged and remained stable.
Aurojyoti Bose, Lead Analyst at GlobalData, said, “The decline in global travel and tourism deal activity was mostly driven by a significant fall in deal volume in some regions and countries, while deal activity remained relatively better for some other regions and countries. In fact, some regions and countries even showcased double-digit growth in deal volume, which seems to be an indication of improving deal-making sentiments.”
The travel and tourism sector in North America, Asia-Pacific, and South and Central American regions saw a decline in deal volume by 36 per cent, 7.7 per cent and 20 per cent during Q1-Q3 2024 as compared to Q1 – Q3 2023. In contrast, Europe registered 10.3 pe rcnet YoY improvement in deal activity. Meanwhile, deal volume for the Middle East and African region mostly remained at the same level.
Overall, the trend in the travel and tourism sector showed mixed results for different countries. The US, China, and France witnessed a YoY decline in deal volume by 36.3 per cent, 38.5 per cent and 42.9 per cent respectively, during Q1-Q3 2024, whereas India and Japan experienced respective deal volume improvement by 24.3 per cent and 38.1 per cent YoY. Meanwhile, deal volume for the UK, South Korea and Australia mostly remained at the same level.
From: financialexpress
Financial News
