(16 Sep 2021) GlobalData reports that deal-making activity in the travel and tourism sector declined by 17.4% in August 2021.
A total of 57 deals – comprising mergers & acquisitions, private equity, and venture financing – were announced in the global travel and tourism sector during the month, which is a decline of 17.4% on the 69 deals announced in July.
The announcement of venture financing, private equity and mergers and acquisition deals in August decreased by 4.3%, 20% and 24.4%, respectively, when compared to the previous month.
Deal activity decreased in key markets such as the US, UK, India and Australia in August compared to the previous month, while China witnessed an improvement in deal activity.
Aurojyoti Bose, Lead Analyst at GlobalData, said, “August marks the second consecutive month of decline in deal activity for the travel and tourism sector after rebounding in June. The subdued deal activity could be attributed to dampened deal-making sentiments as uncertainty due to the COVID19 pandemic still looms.”