Travel sector deal activity down by 31.8% YoY during January-October 2023

Monday, November 13, 2023



Amidst the challenges of ongoing conflicts, geopolitical tensions, and economic uncertainties, the global travel and tourism sector experienced a significant downturn in deal activity during January-October 2023.

According to GlobalData, a leading data and analytics company, a total of 621 deals were announced during this period, reflecting a notable decline of 31.8% compared to the same timeframe in the previous year when 911 deals were recorded.

This decline was observed across all deal types covered by GlobalData’s Financial Deals Database. Mergers and Acquisitions (M&A) deals saw a decrease of 34.2%, while private equity deals and venture financing deals experienced drops of 32.1% and 24% year-on-year, respectively.

Aurojyoti Bose, Lead Analyst at GlobalData, pointed out the far-reaching impact of ongoing wars, geopolitical tensions, and economic uncertainties on deal activity within the travel and tourism sector in 2023.

Regionally, all major global regions faced setbacks in deal activity during January-October 2023 compared to the same period in the previous year. North America witnessed the steepest decline with a 42.9% decrease, followed by Europe (-36.5%), Asia-Pacific (-11.7%), Middle East and Africa (-22.9%), and South and Central America (-40%).

Key global markets also experienced subdued deal activity. Notable declines were recorded in the US, the UK, Japan, France, South Korea, Australia, Spain, and the Netherlands. For example, the US saw a 43.7% year-on-year decline in deal volume, the UK experienced a 33.6% drop, and Japan recorded a 46.8% decrease during January-October 2023.

The challenging landscape reflected in these figures underscores the impact of global uncertainties on the travel and tourism sector. As the industry grapples with ongoing geopolitical challenges and economic unpredictability, stakeholders are navigating a complex environment that has resulted in a substantial reduction in deal activity across various segments and regions.

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