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.
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, comments: “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.”
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 adds: “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.
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
![Peter Kern [Credit Expedia Group]](https://www.traveldailynews.com/wp-content/uploads/2024/09/Peter-Kern-Credit-Expedia-Group-400x265.jpg)
