Travel & tourism sector sees growth in deal activity
LONDON
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Travel and tourism sector had been among the worst hit by the Covid-19 pandemic mainly due to travel restrictions and lockdowns. However, with the world slowly opening up, the sector has started witnessing a slight improvement in its activities, according to GlobalData’s deals database.
A total 27 deals were announced in the global travel and tourism sector during the week ended June 14, a marked improvement over the 19 deals announced during the previous week, it stated.
Deal activity has also remained inconsistent across geographies since the Covid-19 outbreak, said the report.
While deal activity increased in the US, the UK and Australia during the week compared to the previous week, China witnessed decline and it remained at the same level in India.
Aurojyoti Bose, the lead analyst at GlobalData, said: "The inking of these deals during the week marks the second consecutive week of growth in deal activity, which could be a positive sign."
Equity offering and private equity deal announcements increased during the week, while mergers and acquisitions (M&A) deal volume remained at the same level and venture financing and debt offerings deal volume declined, he added.-TradeArabia News Service
