A total of 115 deals were announced in the global travel and tourism sector during August 2020, which is an increase of 4.5% over 110 deals announced during the previous month, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “August marks the third consecutive month of growth in deal activity for the sector. This also assumes more significance as the travel and tourism sector remains one of the worst hit industries due to the COVID-19 pandemic and has witnessed several months of decline in deal activity in 2020.
However, with several countries attempting to revive the tourism sector, deal activity could improve in the second half of the year.”
The announcement of private equity, partnership and equity offering deals increased during the month, while the number of venture financing, mergers and acquisition (M&A) and debt offering deals decreased.
Deal activity has also remained inconsistent across geographies since the COVID-19 outbreak. While deal activity increased in key markets such as the US and China during August compared to the previous month, Germany and Australia showcased decline and it remained at the same level in the UK and India.