The global travel and tourism sector saw a total of 57 deals during January 2021, which is a 29.6% decline over 81 deals announced in December 2020, according to GlobalData, a leading data and analytics company.

GlobalData lead analyst Aurojyoti Bose said: “The travel and tourism sector has been one of the hardest hit by the Covid-19 pandemic with ongoing lockdowns in some of the key markets and travel restrictions bringing business travels mostly to a halt. Resultantly, deal-making appetite also remains muted.”

The count of equity offerings, venture financing, mergers and acquisition (M&A), and private equity deals fell during January 2021 as against the previous month, while debt offerings deal volume grew.

Deal activity fell in core markets such as the US, the UK, China and South Korea during January 2021 as against the previous month.