Mubasher TV
Contact Us Advertising   العربية

Global travel, tourism deals plunge in 5M while European markets show growth – GlobalData

Global travel, tourism deals plunge in 5M while European markets show growth – GlobalData
Photo Archive

Mubasher: The total number of deals registered in the global travel and tourism sector decreased by 10.90% to 286 during the first five months (5M) of 2024 when compared with 321 in January-May 2023, according to GlobalData Deals Database.

The deals comprised mergers and acquisitions (M&A), private equity, and venture financing.

The Middle East and Africa (MEA) showcased an annual decrease of 25% in deals volume during 5M-24. North America, Asia-Pacific, and South and Central America regions also witnessed a drop of 32.30%, 8.20%, and 40%, respectively.

Despite the overall downward performance, European markets showed a 13.40% growth and private equity deals volume witnessed a 9.10% year-on-year (YoY) improvement. This reflected new opportunities for strategic investments.

On the other hand, the number of M&A and venture financing deals plummeted by 5.70%, and 28.4 %, respectively, during January-May 2024 on an annual basis.

Lead Analyst at GlobalData, Aurojyoti Bose, said: “Deal-making sentiments have taken a hit across several sectors, including travel and tourism. The impact was felt in most of the regions and several key markets.”

Other global markets like the US, China, and Australia reported a decrease in deals volume by 30.40%, 52.20%, and 15.40% during January-May 2024 when compared with the same period in 2023.

Bose added: “Despite the overall decline in deal activity in the travel and tourism sector, the improvement in markets like Europe, the UK, India, South Korea, and Germany demonstrate the sector’s adaptability and potential for strategic investments.”

The Lead Analyst concluded: “Investors should seize these emerging opportunities to navigate the evolving landscape and drive future growth.”

It is worth noting that the Travel & Tourism Development Index (TTDI) 2024 by the World Economic Forum showed that the UAE came first in the MENA region, as the sector is seen growing both regionally and internationally.