A decline in deals volume for the sector in markets such as China, India and Australia drove the overall decline in global deal activity for the sector.
A total of 912 deals* were announced in global travel and tourism sector during January to November 2022, which is a decline of 3% over the 940 deals announced during the same period in the previous year, finds GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “A decline in deal activity for the travel and tourism sector indicates the impact rising oil prices, inflation, geopolitical tensions and an uncertain business environment are having on deal-making sentiments.”
A decline in deals volume for the sector in markets such as China, India and Australia drove the overall decline in global deal activity for the sector. China, India and Australia witnessed a decline in deals volume by 20.8%, 23.5% and 31.6% during January to November 2022 compared to the same period in 2021, respectively.
Meanwhile, the US, the UK and Japan experienced an increase in deal activity by 2.5%, 10.8% and 9.8%, respectively. However, the improvement was not enough to negate the impact of decline experienced in other markets.
Deals under coverage including venture financing deals and private equity deals also witnessed a decline in volume by 26% and 17.8% during January to November 2022 compared to the same period in 2021, respectively, while the number of mergers and acquisitions deals increased by 12.9%.
*Comprising mergers & acquisitions, private equity and venture financing deals.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.