The number of deals announced in the global travel and tourism sector decreased by 8.3% during the week ended May 3, 2020, compared to the previous week, according to GlobalData’s deals database.

Aurojyoti Bose, Analyst at GlobalData, comments: “The sector has been hit badly due to the COVID-19 outbreak and deal activity has remained inconsistent since the outbreak.

“The decline this week was mainly due to lower volume of debt offering deals, which declined by 61.5%. The number of private equity deals also declined, while merger and acquisitions (M&A) and venture financing deal volume witnessed growth.”

Deal activity decreased in key markets such as the US, Japan and South Korea, while India and China witnessed growth.