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% compared to the announcement of 120 deals during the same period in 2023, reveals GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database reveals that the number of mergers and acquisitions (M&A) and venture financing deals declined while private equity deals volume showcased improvement during the period.

The number of M&A deals declined by 25.8%, whereas venture financing deals volume registered a YoY decline of 22.2%. Meanwhile, private equity deals volume increased from four during January-February 2023 to six during January-February 2024.

Aurojyoti Bose, Lead Business Fundamentals Analyst at GlobalData, comments: “The dent in deal-making sentiment across sectors and geographies amid the volatile market conditions has taken a toll on deal activity in the travel and tourism sector as well. As a result, the sector saw the announcement of less than 100 deals during the first two months of 2024.”

Most of the regions and key markets also registered a decline in deals volume during January-February 2024 compared to the same period during the previous year.

For instance, North America, Europe, Middle East and Africa and South and Central American region experienced decline in deals volume while Asia-Pacific region showcased marginal improvement.

Meanwhile, key markets such as the US, the UK and France registered decline in deals volume during January-February 2024 compared to the same period during the previous year, whereas India, South Korea, Australia witnessed some improvement.

Bose concludes: “Despite this downturn, areas of resilience and opportunity exist, particularly in regions like Asia-Pacific. As markets evolve, identifying pockets of growth and innovation becomes paramount for industry stakeholders.”

*M&A, private equity and venture financing deals.

Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.