The number of deals announced in the global travel and tourism sector remained at a similar level in July compared to the previous month. Deal volume increased marginally by 0.9% from 109 in June 2020 to 110 in July 2020, 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 the COVID-19 pandemic and deal activity in the sector has remained inconsistent since the outbreak. Though marginal, July’s growth marks the second consecutive month of growth in deal activity following three straight months of decline. In a bid to revive tourism, several countries such as Italy and Japan are looking to subsidize travelers’ expenses. Though the sector is yet to realize the benefits of such initiatives to the fullest, things may improve in the coming months with more countries also joining the league.”

Venture financing and mergers and acquisition (M&A) deals announcements increased during the month, while the number of private equity, equity offering, debt offering and partnership deals decreased.

Deal activity has also remained inconsistent across geographies since the COVID-19 outbreak. While deal activity decreased in key markets such as the US during July compared to the previous month, the UK improved only marginally and China remained at the same level.