Travel and tourism sector witnessed 38.5% decline in deal activity in May

Travel and tourism sector witnessed 38.5% decline in deal activity in May
Travel and tourism sector witnessed 38.5% decline in deal activity in May
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Written by Harry Johnson

The number of deals announced in the global travel and tourism sector declined by 38.5% during the week ended May 24, 2020 compared to the previous week, according to global deals database.

The travel and tourism sector is among the worst hit due to travel restrictions and lockdowns amid the COVID-19 pandemic and it reflects in the deal activity.

The announcement of venture financing and debt offering deals decreased during the week, while mergers and acquisitions (M&A) and private equity deal volumes remained at the same level.

Deal activity has also remained inconsistent across geographies since the COVID-19 outbreak. While deal activity decreased in the US during the week ended May 24, 2020 compared to the previous week, the UK witnessed improvement and deal volume remained at the same level in South Korea.

#rebuildingtravel

About the author

Avatar of Harry Johnson

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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