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Thursday, June 13, 2024

Travel & tourism sector witnessed 3.8% decline in deal activity during February 2021, finds GlobalData

A total of 77 deals (mergers & acquisitions, private equity, and venture financing) were announced in the global travel & tourism sector during February 2021, which is a decrease of 3.8% over the 80 deals announced in January 2021, according to GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel & tourism sector remained the worst hit in 2020 with the COVID-19 pandemic and travel restrictions bringing business travels to a halt. This year also seems to be no different, at least for some months, with the fresh wave of outbreak in some of the countries, which is also affecting deal-making sentiments.”

An analysis of GlobalData’s Financial Deals Database reveals that the announcement of private equity and venture financing deals decreased during February compared to the previous month while the number of mergers and acquisitions (M&A) deals increased.

Deal activity remained subdued in key markets such as the US, China, and the UK, which witnessed decline in deal volume during February compared to the previous month while Australia and India witnessed growth.

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