TRENDING NEWS
  • UN Tourism Members advance agenda for Europe as region leads global recovery
  • Sustainable tourism market to grow at 14% CAGR by 2032
  • UN Tourism launches investment guidelines for Albania
  • 'UAE, Egypt, Vietnam popular among Indian solo travellers'
  • Oman Air mulls single aircraft-type operating model
  • Etihad Airways adds Al Qassim to its route network

Travel & tourism sector deal activity down by 32.7% YoY during Jan-Nov: GlobalData

A total of 666 deals (mergers & acquisitions (M&A), private equity and venture financing) were announced in the travel and tourism sector globally during January-November 2023, which is a year-on-year (YoY) decline of 32.7% compared to the announcement of 989 deals during the same period in the previous year, finds GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, said, “The global travel and tourism sector persistently exhibited a declining trend in deal activity throughout the year. Geo-political tensions, ongoing wars and associated macroeconomic challenges largely affected the deal-making sentiments in the sector.”

An analysis of GlobalData’s Financial Deals Database reveals that the deal activity within the travel and tourism sector for all the regions and most of the countries suffered setbacks during January-November 2023.

North America witnessed 43.2% decline in deals volume during January-November 2023 compared to the same period in the previous year. Similarly, the number of deals announcement in Europe, Asia-Pacific, Middle East and Africa and South and Central American regions too fell by 36.7%, 15.2%, 20.5%, and 42.3%, respectively, YoY during January-November 2023.

Meanwhile, key global markets such as the US, the UK, China, Japan, France, South Korea, Australia, Spain and the Netherlands witnessed YoY decline in deals volume by 44.1%, 29.5%, 4.5%, 46.9%, 20.7%, 26.7%, 30%, 56.8% and 35%, respectively.

Bose added, “All the deal types under the coverage also recorded YoY decline in volume during January-November 2023.”

For instance, the number of M&A deals declined by 34.6% while the volume of private equity deals and venture financing deals registered YoY decline of 31% and 26.3%, respectively

Read Previous

‘The Indian market has successfully reached the targeted spending amount of JPY 200,000’

Read Next

Pahalgam first Indian destination to adopt SGLR rating system for promoting sustainable tourism

Most Popular

Download Magazine