A total of 53 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing) were announced in the global travel and tourism sector during May, which is a decline of 25.4% over 71 deals announced in April, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “May marks the second month of decline in deal activity for the travel & tourism sector after rebounding in March. Considering the spike in COVID-19 cases, it might take a few months to reverse the trend.”
The announcement of venture financing and M&A deals decreased by 52.9% and 29.2% during May compared to the previous month, respectively, while private equity deals volume registered a growth of 83.3% in May.
The deal activity decreased in key markets such as the US, Japan, China, France, South Korea, Spain and the Netherlands during May compared to the previous month, while the UK, India, Germany and Sweden witnessed improvement in deal activity.
