A recent report by GlobalData, a data analytics and consulting company, reveals that a total of 715 deals comprising mergers and acquisitions, private equity, and venture financing deals were announced in the travel and tourism sector globally during 2024, which represented a year-on-year decline of 4.3 pc compared to 747 deals announced during the previous year.

In a press statement, GlobalData says that of the number of private equity deals increased by 26.1 pc in 2024 compared to 2023, and M&A deals volume registered a marginal 0.4 pc growth, whereas the number of venture financing deals was down by 22.3 pc.

“Deal activity in the travel and tourism sector remained a mixed bag across different deal types and geographies. While private equity deals showcased improvement and M&A deals volume remained mostly at the same level, venture financing deals saw a double-digit decline. Now coming to regions, Europe showcased growth in deal volume while North America, the Middle East and Africa, and South and Central America registered double-digit declines, and deal volume for the Asia-Pacific region mostly remained at the same level,” says Aurojyoti Bose, Lead Analyst, GlobalData.

The analysis adds that Europe saw a 17 pc improvement in deal volume during 2024 compared to 2023, whereas North America, the Middle East and Africa, and South and Central America witnessed deal volume falling by 26.7 pc, 27.8 pc, and 13.3 pc, respectively, during the year. Meanwhile, the deal volume in Asia Pacific region saw a marginal decline of 1.7 pc.

“The trend across different key markets was also no different and remained a mixed bag, with some countries registering double-digit growth and some registering double-digit declines,” adds Bose.

While deal volume for markets such as South Korea and Australia remained unchanged, United Kingdom, India, and Japan witnessed improvement in deal volume by 10.8 pc, 36 pc, and 45.7 pc, respectively, during 2024 compared to 2023, whereas the US, China, and France witnessed respective deal volume decline by 25.9 pc, 29.8 pc and 26.9 pc.