TBM Staff - Mumbai Travel and tourism sector witnessed the announcement of 165 deals globally during the first quarter (Q1) of 2024. This represents a year-on-year (YoY) decline of 14.9% compared to the announcement of 194 deals during the same period last year, according to GlobalData, a data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, said, “The decline in North America and Europe, which collectively accounted for around two-thirds of the total number of deals announced globally during Q1 2024, primarily drove the overall decline in deals volume.”
While North America witnessed a decline of 26.2%, Europe experienced 12.3% decline during Q1 2024 compared to Q1 2023.
South and Central America and Middle East and African regions also witnessed decline in deals volume during Q1 2024. Meanwhile, deals volume for the Asia-Pacific region remained mostly flat.
Several key markets across all the regions experienced subdued deal activity. For instance, the US, the UK, China, France and Japan recorded YoY decline in deals volume by 21.7%, 30%, 66.7%, 27.3% and 28.6%, respectively.
An analysis of GlobalData’s Deals Database revealed that the deal volume for mergers and acquisitions (M&A) and venture financing deals declined by 14.2%, and 29.2% during Q1 2024 compared to Q1 2023 whereas the number of private equity deals registered some improvement.
