The travel and tourism sector saw a total of 217 deals being announced in the first four months of 2024, including mergers and acquisitions (M&A), private equity, and venture financing deals. This figure is lower compared to the 251 deals announced during the same period in the previous year, marking a year-on-year decline of 13.5% in deal volume according to industry data.

Deal activity in the travel and tourism sector was affected by uncertain market conditions and ongoing geopolitical tensions, resulting in subdued performance. Major economies such as the US and China witnessed a decline in deal volume compared to the previous year.

Global Travel and Tourism Deals Decline 38.8%

An analysis of the Deals Database revealed that the US and China experienced a decrease of 26.4% and 57.1% respectively in the number of deals announced during January-April 2024 compared to the same period in 2023. Similarly, other important markets like France, Japan, and Italy also reported a year-on-year decline in deal volume. On the other hand, the UK, South Korea, and Spain maintained the same level of deal volume.

In contrast, deal activity varied across regions. North America, Asia-Pacific, Middle East and Africa, and South and Central America all experienced a decrease in deals volume, while Europe remained relatively stable. Within the coverage, different types of deals had mixed results. M&A and VC deals saw a decline, while private equity deals showed improvement from January to April 2024. Compared to the same period in 2023, the number of M&A deals decreased by 9.4% and venture financing deals declined by 31.7%. However, private equity deals volume increased by 37.5%.