A total of 415 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector during January to July of this year, which was a year-on-year (YoY) decline of 10.4 percent compared to the 463 deals announced during the same period in 2023, according to GlobalData, a leading data and analytics company.

Travel and tourism sector witnessed 10.9 percent year-on-year (YoY) decline in the number of deals (mergers and acquisitions (M&A), private equity (PE) and venture financing) announced globally during January-May of this year.

The travel and tourism sector witnessed the announcement of 93 deals globally during the first two months of 2024, an year-on-year (YoY) decline of 22.5 percent compared to the announcement of 120 deals during the same period in 2023, revealed GlobalData, a leading data and analytics company.

The global travel and tourism industry experienced a notable decline in deal activity during January-August of this year, marking a substantial year-on-year (YoY) decrease of 36.2 percent compared to the same period in 2022.

A total of 365 deals (mergers and acquisitions, private equity, and venture financing deals) were announced in the travel and tourism sector globally during the first half (H1) of this year, which was a decline of 38.8 percent compared to 596 deals announced during the same period in the previous year, revealed GlobalData, a leading data and analytics company.

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. The industry, which relies heavily on investment and strategic partnerships, saw a steep year-on-year (YoY) 60.4 percent decline in deal activity in February of this year, revealed GlobalData, a leading data and analytics company.