GlobalData, a prominent data and analytics company, reports a 22.5% year-on-year decline in the announcement of deals in the travel and tourism sector during the first two months of 2024. This contrasts with 120 deals announced during the same period in 2023.
The analysis from GlobalData’s Deals Database indicates a decrease in mergers and acquisitions (M&A) and venture financing deals, while private equity deals showed improvement.
M&A deals declined by 25.8%, and venture financing deals volume dropped by 22.2%. Aurojyoti Bose, Lead Business Fundamentals Analyst at GlobalData, attributes this decline to the overall decrease in deal-making sentiment across various sectors and geographies due to volatile market conditions.
Most regions and key markets experienced a decline in deals volume in January-February 2024 compared to the same period the previous year. North America, Europe, the Middle East and Africa, and South and Central America recorded decreased deals volume, while the Asia-Pacific region showed a slight improvement.
Key markets such as the US, the UK, and France saw a decline in deals volume, while India, South Korea, and Australia witnessed some improvement.
Bose notes, “Despite this downturn, areas of resilience and opportunity exist, particularly in regions like Asia-Pacific. As markets evolve, identifying pockets of growth and innovation becomes paramount for industry stakeholders.”
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