GlobalData has revealed that the travel and tourism sector announced 93 deals globally during the first two months of 2024, a 22.5 percent year-on-year (YoY) decline compared to the announcement of 120 deals during the same period in 2023.
The number of M&A deals declined by 25.8 percent, whereas venture financing deal volume registered a 22.2 percent YoY decline.
At the same time, the number of private equity deals increased from four during January-February 2023 to six during January-February 2024.
“The dent in deal-making sentiment across sectors and geographies amid volatile market conditions has also affected deal activity in the travel and tourism sector,” said Aurojyoti Bose, Lead Business Fundamentals Analyst at GlobalData.
“As a result, the sector announced less than 100 deals during the first two months of 2024.”
Key markets such as the US, the UK, and France registered a decline in deal volume during January-February 2024 compared to last year. In contrast, India, South Korea, and Australia witnessed some improvement.
“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.
