A total of 621 deals* were announced in the travel and tourism sector globally during January-October 2023, which was a decline of 31.8% compared to the announcement of 911 deals during the same period in the previous year, finds GlobalData.
An analysis of GlobalData’s Financial Deals Database also revealed that all the deal types under coverage witnessed a decline in volume during January-October 2023 compared to January-October 2022.
For instance, the volume of mergers and acquisitions (M&A) deals declined by 34.2% during January-October 2023 compared to January-October 2022. Meanwhile, the number of private equity deals and venture financing deals announced during January-October 2023 were down by 32.1% and 24% year-on-year (YoY), respectively.
