06 Jan 2021
Posted in Business Fundamentals
Travel & tourism sector witnessed 9% decline in deal activity during December 2020
A total of 81 deals were announced in the global travel and tourism sector during December 2020, which is a decrease of 9% over 89 deals announced during the previous month, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector remains one of the worst affected industries due to the COVID-19 pandemic and now fears of second wave appear to be taking a toll on deal activity within the sector. After showcasing some improvement during October, deal activity in the sector plummeted in November and December.”
The announcement of key deal types such as private equity, equity offerings, debt offerings and partnerships decreased during December compared to the previous month, while the number of venture financing and mergers and acquisition (M&A) increased.
Deal activity decreased in key markets such as France, Japan and India during December compared to the previous month, while the US and China showcased improvement.