The number of deals announced in the global travel and tourism sector grew by 22.7% during the week ended May 10, 2020 compared to the previous week, according to GlobalData’s deals database.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is among the worst hit due to coronavirus/COVID-19 and deal activity in the sector has also remained inconsistent since the outbreak. The growth in deal activity during the week (subsequent to a decline in previous week) was primarily due to increase in announcement of debt offering deals.”

The announcement of debt offering deals increased by 160% during the week, while mergers and acquisitions (M&A) and venture financing deal volume declined by 57.1% and 33.3%, respectively.

Deal activity increased in the US during the week ended May 10, 2020 compared to the previous week, while India and China witnessed decline.