The number of deals announced in the global travel and tourism sector declined by 60% during the week ended 29 March 2020 compared to the previous week, according to GlobalData’s deals database.
The continued subdued activity could be attributed to volatile market conditions because of the coronavirus (COVID-19) outbreak, which has affected the travel and tourism sector badly.
GlobalData analyst Aurojyoti Bose said: “Deal activity plunged in most of the key markets such as the US, Japan, South Korea and India during the week ended March, 29, 2020 compared to the previous week.
“Most of the key deal types also witnessed a decline in volume during the week ended March, 29, 2020 compared to the previous week. While mergers and acquisitions (M&A) deals volume declined by 42.9%, the number of venture financing deals dropped by 80%. Moreover, there were no announcements of any private equity deals during the week ended March, 29, 2020.”