In the first quarter of 2024, the travel and tourism sector globally saw the announcement of 165 deals, marking a 14.9% decrease compared to the same period last year when 194 deals were announced, as reported by GlobalData, a data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, notes that the decline in deal volume was primarily driven by decreases in North America and Europe, which together accounted for about two-thirds of the total deals announced globally during Q1 2024. North America experienced a 26.2% decline, while Europe saw a 12.3% decrease compared to Q1 2023.
During Q1 2024, South and Central America, as well as the Middle East and African regions, also saw a decline in deal volume. In contrast, deal volume in the Asia-Pacific region remained largely unchanged.
Across various regions, several key markets experienced subdued deal activity. For example, the US, the UK, China, France, and Japan saw year-on-year declines in deal volume by 21.7%, 30%, 66.7%, 27.3%, and 28.6%, respectively.
An analysis of GlobalData’s Deals Database revealed that both mergers and acquisitions (M&A) and venture financing deals declined by 14.2% and 29.2%, respectively, during Q1 2024 compared to Q1 2023, while the number of private equity deals showed some improvement.
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