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read moreGlobalData, a leading data and analytics company, has revealed that the global travel and tourism sector deal activity is down by 35.7%, year on year for the first half of 2023.
While Australia is among the several key markets to experience slowdown, China is experiencing a contrasting trajectory of its deal volume - demonstrating the industry’s inherent resilience
With challenging market conditions, various industries have grappled with subdued deal activity during January-July 2023.
The tourism industry is no different with an analysis of GlobalData’s Financial Deals Database revealing that 438 deals were announced in the travel and tourism industry globally during January-July 2023 compared to 681 during January-July 2022.
Aurojyoti Bose, Lead Analyst at GlobalData shared “Volatile economic conditions continued to impact the deal-making sentiments in the travel and tourism industry in 2023 with most of the top markets experiencing double-digit decline in deal volume.”
In fact, the top two markets by deals volume, the US and the UK, saw respective deal volume reducing to almost half. The number of deals announced in the US fell by 45% from 218 to 120. Meanwhile, the deal volume for the UK declined by 43.8% from 80 to 45.
India, Australia, France, South Korea, Japan, The Netherlands, and Italy witnessed YoY decline in deal volume by 16.7%, 21.7%, 19%, 5.9%, 60%, 31.3% and 10%, respectively. However, China emerged as a notable exception and registered 12% YoY growth in deal volume.
In terms of regions, Europe, Asia-Pacific, North America, Middle East and Africa and South and Central America witnessed YoY decline in deal volume by 44.8%, 14.4%, 44.6%, 13%, and 20%, respectively, during January-July 2023.
All the deal types under coverage witnessed YoY decline in deal activity. The number of mergers and acquisitions (M&A), private equity and venture financing deals declined by 37.5%, 36.8% and 29.7%, respectively, during January-July 2023.
Bose adds “While markets grappled with volatility, the contrasting trajectory of China's deal volume demonstrates the industry’s inherent resilience. As the industry charts its course through uncertainty, it continues to unveil pockets of potential and prospects for revival.”
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.
The information is based on GlobalData’s Financial Deals Database
14th July 2023 - GlobalData reveals decrease in Australian tourism sector deal activity
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10th March 2021 - GlobalData highlights the need for tourism sector to adapt to Chinese preferences
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