Amidst a backdrop of challenging market conditions, various industries have grappled with subdued deal activity during January-July 2023. The travel and tourism industry is no different and saw deal activity decline by a massive year-on-year (YoY) 35.7%, reveals GlobalData.
An analysis of GlobalData’s Financial Deals Database reveals that 438 deals were announced in the travel and tourism industry globally during January-July 2023 compared to 681 during January-July 2022
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Volatile economic conditions continued to impact the deal-making sentiments in the travel and tourism industry in 2023 with most of the top markets experiencing double-digit decline in deal volume.”
