A total of 57 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during August 2021, which is a decline of 17.4% over 69 deals announced in July, according to GlobalData.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “August marks the second consecutive month of decline in deal activity for the travel and tourism sector after rebounding in June. The subdued deal activity could be attributed to dampened deal-making sentiments as uncertainty due to the COVID-19 pandemic still looms.”
All the deal types (under coverage) also witnessed decline in deal activity in August compared to the previous month. The announcement of venture financing, private equity and mergers and acquisition deals decreased by 4.3%, 20% and 24.4% during August compared to the previous month, respectively.
Deal activity also decreased in key markets such as the US, the UK, India and Australia during August compared to the previous month, while China witnessed improvement in deal activity.