Mergers, acquisitions and financing deals in the travel and tourism sector were down in the first quarter of 2024, compared to the same period last year, GlobalData revealed.
Specifically, according to the leading data and analytics firm, in the travel and tourism sector, 165 deals* were announced globally in the first quarter of the year, representing a 14.9% year-on-year decrease, compared to 194 deals announced in the same period in 2023.
“The decline in North America and Europe, which together accounted for around two-thirds of the total number of deals announced globally in the first quarter of 2024, mainly drove the overall decline in deal volume,” comments GlobalData’s chief analyst Aurojyoti Bose.
While North America declined 26.2%, Europe experienced a smaller decline of 12.3% in the first quarter of 2024, compared to the first quarter of 2023.
The South and Central America and Middle East and Africa regions also saw a decline in deal volume in the first quarter. Meanwhile, deal volume for the Asia-Pacific region remained largely unchanged.
Several key markets across all regions experienced sluggish deal activity. For example, the US, UK, China, France and Japan recorded annual declines in deal volume of 21.7%, 30%, 66.7%, 27.3% and 28.6% respectively.
An analysis of GlobalData’s deals database revealed that the volume of M&A and venture financing deals decreased by 14.2%, and 29.2% during the first quarter of 2024, compared to the same quarter in 2023, while the number of private equity deals recorded a relative improvement.
*Mergers and acquisitions, private equity deals and venture capital financing deals.
