The travel and tourism sector witnessed the announcement of 93 deals globally during the first two months of 2024.

This is a year-on-year (YoY) decline of 22.5% compared to the announcement of 120 deals during the same period in 2023, reveals leading data and analytics company GlobalData.

An analysis of GlobalData’s Deals Database reveals that the number of mergers and acquisitions (M&A) and venture financing deals declined. Meanwhile, private equity deals volume showcased improvement during the period.

GlobalData lead business fundamentals analyst Aurojyoti Bose explained: “The dent in deal-making sentiment across sectors and geographies amid the volatile market conditions has taken a toll on deal activity in the travel and tourism sector. As a result, the sector saw the announcement of less than 100 deals during the first two months of 2024.”

Disparities in regional markets for travel and tourism deals

Most of the key regions and markets also registered a decline in deals volume during January to February 2024 compared to the same period during 2023.

For instance, North America, Europe, Middle East and Africa and South and Central American region experienced decline in deals volume while the Asia-Pacific region showcased marginal improvement.

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Meanwhile, key markets such as the US, the UK, and France registered decline in deals volume during January to February 2024 compared to the previous year, whereas India, South Korea, Australia witnessed some improvement.

Bose concludes: “Despite this downturn, areas of resilience and opportunity exist, particularly in regions like Asia-Pacific. As markets evolve, identifying pockets of growth and innovation becomes paramount for industry stakeholders.”

For the hotel market, UK investments are predicted to prosper in 2024 due to a notable increase in deals secured in 2023, positively impacting transactional volumes.