There has been a 10.4 pc year-over-year (YoY) decline in travel and tourism deal activity for January through October 2024, with total deals dropping from 651 in 2023 to 583 this year, says a report by GlobalData, a leading data collection and analysis firm. 

According to GlobalData, this includes mergers and acquisitions (M&A), private equity, and venture financing in the travel and tourism industry.

The statement adds that key countries also reflected this trend with mixed results. While the US, China, South Korea and France experienced declines of 32.2 pc, 30.2 pc, 4.8 pc and 34.8 pc, respectively, countries like the United Kingdom, India, Japan and Spain recorded growth in deal volumes at 2.7 pc, 18.6 pc, 28.6 pc and 69.2 pc.

Aurojyoti Bose

“Geopolitical tensions and economic uncertainties significantly impacted the deal-making in the travel and tourism sector. However, some of the leading economies in Europe and the Asia-Pacific region saw improvement in the volume of deals,” says Bose.

An analysis of GlobalData’s database also highlights that M&A and venture financing deals fell by 4.9 pc and 29.4 pc, respectively, while private equity deals saw a slight uptick, suggesting a nuanced impact across different deal types within the sector.

This mixed trend reflects the ongoing challenges in the travel and tourism sector as it navigates economic headwinds and geopolitical instability, with regions and countries showing varied resilience and recovery trajectories.