02 Apr 2020
Posted in Business Fundamentals
Deal activity in travel and tourism sector continues to remain subdued
The number of deals announced in the global travel and tourism sector decreased by 60% during the week ended March, 29, 2020 compared to the previous week, according to GlobalData’s deals database.
The travel and tourism sector has been affected badly since the outbreak of the coronavirus (COVID-19) and the subdued activity could be attributed to volatile market conditions as a result of the outbreak.
Aurojyoti Bose, Analyst at GlobalData, comments: “Deal activity plunged in most of the key markets such as the US, Japan, South Korea and India during the week ended March, 29, 2020 compared to the previous week.
“Most of the key deal types also witnessed a decline in volume during the week ended March, 29, 2020 compared to the previous week. While mergers and acquisitions (M&A) deals volume declined by 42.9%, the number of venture financing deals dropped by 80%. Moreover, there were no announcements of any private equity deals during the week ended March, 29, 2020.”