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.
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 GlobalData, a leading data and analytics company.
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.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “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.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
