24 Apr 2020
Posted in Coronavirus
Travel and tourism sector witnesses decline in deal activity during the week ended April 19, says GlobalData
The number of deals announced in the global travel and tourism sector decreased by 39.1% during the week ended April 19, 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 COVID-19 and deal activity has remained inconsistent since the outbreak.”
Key deal types such as merger and acquisitions (M&A), private equity and debt offering deals decreased by 60%, 50% and 25%, respectively during the week ended April 19, 2020 compared to the previous week, while venture financing volume witnessed growth.
Deal activity decreased in key markets such as the US and Australia, while China witnessed growth.