08 May 2020
Travel and tourism sector witnesses 8.3% decline in deal activity during the week ended May 3, 2020, says GlobalData
Posted in Coronavirus 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.