Almasalla news | Arab Tourism Portal News
A total of 519 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector globally during January to September (Q1-Q3) 2024, which was a year-on-year (YoY) decline of 11% over 583 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database also revealed that the volume of M&A deals decreased by 6.8% during Q1-Q3 2024 compared to the same period in 2023, while the number of venture financing deals was down by 25.2% YoY. Meanwhile, private equity deals volume remained unchanged.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in global travel and tourism deal activity was mostly driven by a significant fall in deals volume in some regions and countries, while deal activity remained relatively better for some other regions and countries. In fact, some regions and countries even showcased double-digit growth in deal volume, which seems to be an indication of improving deal-making sentiments.”
North America, Asia-Pacific, and South and Central American regions experienced decline in deal volume by 36%, 7.7%, and 20% during Q1-Q3 2024 compared to Q1-Q3 2023. In contrast, Europe registered 10.3% YoY improvement in deal activity. Meanwhile, deal volume for the Middle East and African region mostly remained at the same level.
Similarly, the trend across different countries also remained a mixed bag. The US, China, and France witnessed YoY decline in deal volume by 36.3%, 38.5%, and 42.9%, respectively, during Q1-Q3 2024, whereas India and Japan experienced respective deal volume improve by 24.3% and 38.1% YoY. Meanwhile, deal volume for the UK, South Korea, and Australia mostly remained at the same level.
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