According to new research from Phocuswright, the global travel market is forecasted to grow between 6-10 percent per year through 2026. The industry has now exceeded pre-pandemic levels, recording a 24 percent jump in gross bookings in 2023, and a total spend of USD1.5 trillion.
The travel and tourism sector witnessed the announcement of 93 deals globally during the first two months of 2024, an year-on-year (YoY) decline of 22.5 percent compared to the announcement of 120 deals during the same period in 2023, revealed GlobalData, a leading data and analytics company.
The global travel and tourism industry experienced a notable decline in deal activity during January-August of this year, marking a substantial year-on-year (YoY) decrease of 36.2 percent compared to the same period in 2022.
A total of 365 deals (mergers and acquisitions, private equity, and venture financing deals) were announced in the travel and tourism sector globally during the first half (H1) of this year, which was a decline of 38.8 percent compared to 596 deals announced during the same period in the previous year, revealed GlobalData, a leading data and analytics company.
A total of 1,080 deals were announced in the global travel and tourism sector during 2021, which is an improvement of 1,3 percent over the 1,066 deals announced during 2020, according to GlobalData, a leading data and analytics company.
