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

T&T deals globally plunge 31.9% in 2023: GlobalData

Global travel and tourism sector witnessed the announcement of a total of 723 deals (mergers & acquisitions (M&A), private equity (PE), and venture capital (VC)) during 2023, a decline of 31.9% compared to the 1,062 deals announced during the previous year, according to data and analytics company, GlobalData.

An analysis of GlobalData’s Deals Database reveals that all the deal types under the coverage witnessed notable decline in volume during 2023 compared to the previous year.

While the volume for M&A deals fell by 32.8%, the number of PE and VC deals were down by 40% and 27.9%, respectively, during 2023 compared to 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, said, “Several factors were at play for the subdued deal activity across several sectors and the travel and tourism sector was not an exception to this global trend. Notable among these factors include the ongoing geopolitical tensions, conflicts, fears of recession, inflation and interest rate hikes.”
North America, Europe, Asia-Pacific, Middle East and Africa and South and Central America regions recorded decline in deals volume by 42.1%, 35.9%, 14.2%, 23.3% and 48.3%, respectively, during 2023 compared to the previous year.

Meanwhile, deal volume also declined in several leading economies including the US (43.3%), the UK (29.7%), China (10%), Japan (41.8%), France (19.4%), South Korea (20%), Australia (37.1%), Spain (57.9%) and Canada (21.1%) during 2023 compared to 2022.

Read Previous

British Airways unveils sale with fares ranging from 225,000 to 345,000

Read Next

Royal Orchid and Regenta Hotels launch Regenta Resort Sakleshpura

Most Popular

Download Magazine