The travel and tourism sector faced losses after experiencing less activity than in previous years.
During January-April 2024, there were 217 mergers, acquisitions, private equity, and venture financing deals. This is a 13.5 percent year-on-year decline in deal volume, down from 2023’s 251.
“Deal activity in the travel and tourism sector remained subdued amid the uncertain market conditions and ongoing geopolitical tensions,” said Aurojyoti Bose, Lead Analyst at GlobalData.
“Several leading economies, including the US and China, recorded a year-on-year decline in deal volume.”
An analysis of GlobalData’s Deal Database revealed that the number of deals announced in the US and China declined by 26.4 percent and 57.1 percent during January-April 2024 compared to the same period in 2023.
Other key markets, such as France, Japan and Italy, also experienced a year-on-year decline in a similar volume.
Similarly, most regions experienced subdued deal activity. Deals volume declined in North America, Asia-Pacific, the Middle East and Africa, and South and Central America. In contrast, it remained mostly the same in Europe.
“It was a mixed bag for different deal types under the coverage, with mergers and acquisitions and VC deals registering declines while private equity deal volume showcasing improvement during January-April 2024,” said Bose.
The number of mergers and acquisitions and venture financing deals declined by 9.4 percent and 31.7 percent during January-April 2024. Compared to January-April 2023, the volume of private equity deals grew by 37.5 percent.
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