Travel & Tourism deal activity down by 42% in January 2023, finds GlobalData
The travel and tourism sector's deal activity in January 2023 was affected by challenging global economic conditions and their implications, according to a report by GlobalData, a data and analytics company.
The report revealed that 38 deals, including mergers and acquisitions, venture financing, and private equity deals, were announced globally, which is a decline of 42.4% in terms of deal volume compared to the previous month. The decline was attributed to current geopolitical tensions and recession fears, which heavily impacted deal-making sentiment in the sector. The US, the UK, China, Australia, and Japan experienced a decline in deal volume in January 2023, and all the deal types under coverage experienced a decline, with merger and acquisition deals, venture financing deals, and private equity deals declining by 36.8%, 50%, and 50%, respectively.
