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Deal activity in travel & tourism sector declined by 11.3% during September, says GlobalData

October 17, 2020 Business News No Comments Email Email

A total of 102 deals were announced in the global travel and tourism sector during September 2020, which is a decrease of 11.3% over 115 deals announced during the previous month, according to GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is among the worst hit due to COVID-19, and deal activity in the sector has also remained inconsistent since the outbreak. After showcasing improvement for three consecutive months, deal activity in the sector plummeted once again in September.”

Most of the deal types witnessed decline in deal volume. The number of private equity, partnership, venture financing, debt offerings, and mergers and acquisition (M&A) deals shrank by 41.7%, 33.3%, 15.8%, 10.5%, and 3.2% during September compared to the previous month, respectively, while equity offerings deal volume increased by 4%.

Bose adds: “Deal activity also declined across most countries. While deal activity decreased in key markets such as the US, China and Japan during September compared to the previous month, the UK showcased marginal improvement and it remained at the same level in South Korea.”

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