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.
Global travel and tourism sector witnessed the announcement of a total of 723 deals i.e. mergers and acquisitions (M&A), private equity (PE), and venture capital (VC)) during 2023, a decline of 31.9 percent compared to the 1,062 deals announced during 2022, according to 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.
The travel and tourism sector has become a prime focus for cyberattacks in recent times, resulting in ransomware incidents arising from data breaches. Against this backdrop, cybersecurity concerns within the industry have escalated with a four pecent year-on-year (YoY) rise in 2022, reflecting the prevailing sentiment, said GlobalData, a leading data and analytics company.
of this year compared to the previous month, announced GlobalData. According to the leading data and analytics company’s Financial Deals Database, a total of 73 deals were announced in the global travel and tourism sector during May, which is a growth of 1,4 percent over 72 deals announced in April of this year.
Millennials and Gen Z will be the two cohorts driving demand for buy now, pay later schemes as they were hit particularly hard by the pandemic, according to GlobalData.
COVID-19 has accelerated the need for companies within the travel and tourism industry to rapidly invest in digital strategies including the global online travel market which is expected to grow at a compound annual growth rate (CAGR) of eight percent to reach USD765,3 billion between 2022 and 2025, according to GlobalData.
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.
European travellers are set to become a key source market for the Gulf region, especially Gulf Cooperation Council (GCC) countries, which will help their post pandemic tourist industry recovery.
