US and UK saw respective deal volume reducing to almost half - China emerges as notable exception
A total of 365 deals (mergers & acquisitions, private equity, and venture financing deals) were announced in the travel and tourism sector globally during the first half (H1) of 2023, which was a decline of 38.8% compared to 596 deals announced during the same period in the previous year, reveals GlobalData.
The travel and tourism industry has witnessed a massive 41% year-on-year (YoY) decline in deal activity from 475 deals announced during January-May 2022 to 282 during the first five of months of 2023, reveals GlobalData.
A total of 219 deals were announced in the global Travel and Tourism sector during January to April 2023, which is a 43% decline over 384 deals announced during the same period in 2022, finds GlobalData.
A total of 179 deals were announced in the global Travel and Tourism sector during the first quarter (Q1) of 2023, which is a 40.7% decline compared to the announcement of 302 deals during the same period in 2022.
The global travel and tourism industry, which has been struggling to rebound from the COVID-19 pandemic induced slowdown, is facing another setback with a significant drop in deal activity.
Challenging global economic conditions and their implications reflected their impact on the travel and tourism sector’s deal activity in the first month of 2023
A total of 1,006 deals were announced in the global travel and tourism sector during the 2022, which is a decline of 3.4% over the 1,041 deals announced during the previous year, according to GlobalData.
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.
A total of 289 deals were announced in the global travel and tourism sector during Q1 2022, according to GlobalData. An analysis of the company’s Financial Deals Database reveals that this is a growth of 1.8% compared to the 284 deals that were announced in Q1 2021.